Garlick v. Karger
Garlick v. Karger
Opinion of the Court
This was an appeal from an order of the circuit court for the county of Milwaukee In the matter of the assignment of Morris Speiser and Sigmund Bing, denying the motion of the appellant for a reference and allowance of her claim filed against the assignors, and striking her claim from the files.
Morris Speiser and Sigmund Bing, copartners doing business as the firm of Speiser, Bing & Co., made a voluntary assignment to the respondent for the benefit of their creditors, which was duly filed, and notice given to 'creditors to present their claims. The appellant filed a claim, founded upon a written agreement of August 27, 1895, between said Morris Speiser, Sigmund Bing, William Boyd, and the appellant, to the amount of $6,000 and interest; praying that it be allowed, and, if disallowed, that the -assignors and .assignee be required to render a true and just account, and the amount found due on accounting be allowed. The agreement recited, in substance, that the first three of said parties had been engaged in the wholesale clothing business in Milwaukee under the name of Speiser, Bing & Co., and that such copartnership was thereby dissolved by mutual consent, William Boyd retiring and withdrawing all connection with said business from that date (the firm, however, to remain the same as at present until April, 1896), the successors, Speiser and Bing, agreeing to pay all the outstanding bills
Said Morris Speiser and Sigmund Bing further bound themselves, their heirs, etc., to pay or cause to be paid to the appellant two twelfths of whatever net profits there might be found to be and belong to the said capital, that being the portion or share in profits of the business of Speiser, Bing & Co. which was theretofore understood should be paid to William Boyd; the amount of such profits to be determined from an examination of the books aud upon the winding up of the affairs of said Speiser, Bing & Co. between the date of said agreement and the 1st of April, 1896; the computation of net profits to be on the business of Speiser, Bing & Co. done prior to the date of the agreement. Speiser and Bing further agreed to pay to the appellant the sum of $10 per month from the date of the agreement until the 1st of April, 1896, or until such time before that date as the whole amount of said $6,000, less or more, may have been paid to the appellant; said sum of $40 a month to be charged to her, and deducted from the whole amount which might be found payable to her under the agreement. William Boyd rati
Said claim was verified, and the appellant moved the court for an order of reference referring her said claim to a referee for the purpose of ascertaining the exact amount due, and for the purpose of ascertaining whether it had or had not a preference over the claims of the general creditors of Morris Speiser and Sigmund Bing, doing business as Speiser, Bing & Co., and for such other relief, etc. The court made an order denying the reference, and that the claim of the said appellant be stricken from the files, without costs and without prejudice, from which said appellant appeals.
The claim filed by the appellant is against the firm of Morris Speiser and Sigmund Bing, doing business under the firm name of Speiser, Bing & Co., and for which Speiser and Bing made themselves personally liable by the written contract. The appellant, claiming under and through William Boyd, one of the copartners of the firm of Speiser, Bing & Co., by assignment from him and as a representative of his interest as a partner therein, cannot prove up her claim thus derived from him against the assets of the firm of Speiser, Bing & Co. in the hands of their assignee, in competition with the creditors of the firm. Gibbs v. Humphrey, 91 Wis. 111-115; Thayer v. Humphrey, 91 Wis. 276, 288. As as-
By the Oowrt.— The order of the circuit court appealed from is affirmed.
Reference
- Full Case Name
- Garlick v. Karger, Assignee
- Status
- Published