Heindel v. Brazel
Heindel v. Brazel
Opinion of the Court
We do not perceive that any useful purpose would be served by detailing the evidence. We have examined the record with utmost care. In our opinion the find-
It thus appears that during the time the transactions connected with the $3,390 note sued upon occurred until Robert made the said statement to the bank, the defendants were holding out to the bank that they were partners and that the several notes covered partnership loans. Ostensible partnership, when relied on, imposes the same obligations to third persons as actual partnership. Sec. 123.13, Stats. As Robert held out to the bank that Martin was his partner and authorized to act for the partnership, and the bank acted in reliance on the relation so held out, he was bound by all the transactions of Martin up to the time he notified the bank that he would be responsible no longer. The notification relieved him from liability on the notes executed by Martin after it was given, as disclaiming responsibility for Martin’s acts would cover his act in renewing the note then outstanding, but it did not relieve him from liability on the outstanding note.
By the Court. — The judgment of the county court is reversed for further proceedings in accordance with the opinion.
Reference
- Full Case Name
- Heindel, Special Deputy Commissioner of Banking v. Brazel, imp.
- Status
- Published