Lynch v. Simmons Hardware Co.
Lynch v. Simmons Hardware Co.
Opinion of the Court
— It appears from the record that on and before January 7, 1884, Morris Lynch and James Lynch, Jr., were engaged in the retail hardware business under the firm name of Lynch Bros., and on that day they made a general assignment of all their property for the benefit of their creditors. Prior to making the assignment they purchased the property now in controversy from one Heimer. The consideration agreed to be paid for the property, as expressed in the conveyance, was forty-five hundred dollars. There was but one hundred dollars paid on the purchase of said property, and a mortgage was executed by said Morris Lynch and James Lynch, Jr., to secure the balance agreed do be paid for the property. No other or further payments were made, and when the assignment was executed Heimer was the holder of the mortgage. The assignment included all the property of the partnership. It was drawn in proper form, and signed in the firm name of Lynch Bros., and the acknowledgment to the instrument was made by said Morris Lynch for and in behalf of the firm. James Lynch, Jr., has never at any time, so far as appears, made any question that the assignment was valid. On the next day after the assignment was made, the defendants, who were creditors of the partnership, commenced actions on their claims, and levied attachments on the property in controversy. The evidence shows that the one hundred dollars paid by the firm on the purchase was partnership money, and that the purchase was actually made by the firm. This is disputed by appellants, but we do not regard it as material to the determination of the rights of the parties whether it was a partnership transaction or not.
Abbirmbd.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.