Shaw v. Goodman
Shaw v. Goodman
Opinion of the Court
The judgment sought to be established as a lien against one fourth of the partnership assets in the hands of the receiver, and of a superior dignity to all liens upon such 'assets, except older judgments and liens against the partnership, was not a judgment against the partnership, but was one against J. T. Allen as an individual. Under the well-established rule as to the disposition of partnership assets by a court through the hands of its receiver, the joint or partnership assets will be applied first to the payment of partnership debts, and none of such assets can be devoted to the payment of the individual indebtedness of the partners until all of the partnership debts have been satisfied. It does not appear from the petition for intervention whether the assets in the hands of the receiver were sufficient to pay the partnership debts; but the contention made in the petition was that the judgment which the Shaws had obtained against Allen individually, who was a member of the partnership, had a prior lien on one fourth of the partnership assets, except as to older judgments
Judgment affirmed.
Reference
- Full Case Name
- SHAW v. GOODMAN
- Cited By
- 1 case
- Status
- Published