Sprague v. Brown
Ohio Supreme Court
Sprague v. Brown, 1 Ohio Law. Abs. 276 (Ohio 1923)
Allen, Day, Jones, Marshall, Matthias, Wanamaker
Sprague v. Brown
Opinion of the Court
1. Where a partner borrows money on his individual credit from another partner, and later gives a note as evidence of such loan, such borrowing does not create a partnership debt, though the money be applied to partnership purposes.
2. A separate creditor who holds a valid chattel mortgage upon the interest of a partner in a partnership, has a lien upon the surplus due the partner after all • partnership debts are paid, which lien is superior to the claim for an individual debt due from the partner to his co-partner. (Nixon & Chatfield v. Nash & Atkison, 12 Ohio St., 647, distinguished.)
Judgment of .the Court of Appeals, reversed and judgment for plaintiff in. error.
Reference
- Full Case Name
- Almeda Sprague v. William A. Brown
- Status
- Published