Haddock, Reed & Co. v. Crocheron
Haddock, Reed & Co. v. Crocheron
Opinion of the Court
There is really but a single question presented for our consideration by this record, and that is, can one partner, after a dissolution of the partnership, by a novation general, or by a new engagement with his creditor, in consideration of being discharged and released from a liability, contracted during the existence of the firm, bind the retired partner by such new engagement or new obligation ? This is not now an open question in this State. In Speake v. White, 14 Tex. R., 368, it was decided that “ the acknowledgment of an antecedent indebtedness by one partner, after dissolution, did not bind the firm.” In White v. Tudor, 24 Tex. R., 641, it is even held, that a general authority to one partner, after dissolution, to settle the business of the firm, does not warrant him to “give a note in the name of the firm for a firm debt, or to> renew one given before the dissolution.” This general conclu
Affirmed.
The court has carefully examined the ground for a rehearing in this case. The judgment of the court below was affirmed, because the notes, executed in the name of a firm by one partner, after dissolution, did not bind the retired partner. But a rehearing is sought, because by an amended petition of the plaintiff, filed June 9, 1868, the plaintiff sought to recover on the original cause of action. The statute of limitations was relied upon in the amended answer. The statute of limitations having begun to run upon the original cause of action, was not arrested until the filing of the amended petition. The original note was executed on the 23d of February, 1851. The amended petition was filed the 9th of June, 1868.' Then, abstracting the time between the 2d of March, 1861, and the 2d of September, 1866, the full period of four years had elapsed before the institution of the suit; and the statute being relied upon in the answer, this court is bound to treat it as a bar to the action. The application for a rehearing is therefore refused.
Rehearing refused.
Reference
- Full Case Name
- Haddock, Reed & Co. v. H. Crocheron
- Cited By
- 9 cases
- Status
- Published
- Syllabus
- 1—One partner of a firm can not, after a dissolution of the partnership, bind the other partner by a new engagement. 3—A note given by one partner after a dissolution of the partnership does not bind the other partner, although given in the partnership name and in consideration or settlement of a subsisting partnership liability. 3— The signing a note with the firm name “ in liquidation ” is of itself notice to the taker of the note that the partnership had been dissolved. 4— The plaintiffs sued on a note given them in the name of a firm in liquidation. The defense was pleaded that the note was given by one of the partners after dissolution of the partnership, and without the authority of the partner sued. The plaintiffs then amended their petition and set up a partnership note in lieu of which the note first sued on was given. Meld, that against the original note thus set up by the amended petition, the statute of limitations continued to run until the amended petition was filed.