Powell v. Bennett
| Decision Date | 20 January 1892 |
| Docket Number | 266 |
| Citation | 29 N.E. 926,4 Ind.App. 112 |
| Parties | POWELL v. BENNETT |
| Court | Indiana Appellate Court |
From the Boone Circuit Court.
T. J Cason and T. W. Lockhart, for appellant.
C. W Zion, for appellee.
At the time of the organization of this court, this cause was pending in the Supreme Court, from which it was transferred by the clerk under the general order made in Ex Parte Sweeney, 126 Ind. 583, 27 N.E. 127.
The appellee's complaint alleged, in substance, that on the 28th of January, 1888, he entered into partnership with the appellant, for the purpose of carrying on a wholesale and retail liquor and tobacco business in the city of Lebanon Indiana; that each partner contributed equally to the capital, and by the terms of the copartnership the parties were to share profits and bear losses and expenses equally that they continued such partnership business until the first of December, 1888, when said partnership was dissolved by their mutual consent; that by the terms of the dissolution the appellant agreed to take the stock on hand at its appraised value, three hundred and fifteen dollars, and to collect the debts due said firm, and to pay all debts "due by said firm," and, on final settlement, to pay the appellee his full share of said firm's assets that the appellant managed the financial affairs of said firm, bought the goods and merchandise, kept the books, and collected and paid out the cash, and had general supervision over the same; that at and after the time of said dissolution, pursuant to the contract of dissolution, the appellant proceeded to take, "and now holds," full possession of all the assets of said firm, and collected the debts due to said firm; but that he had wholly failed, refused and neglected to pay or distribute any part of the amount due to the appellee; that the profits of said business, during the term of said partnership, amounted to more than two thousand dollars, over and above all debts, expenses and liabilities; "that there are debts due to said firm upon the books thereof," or were at the time of said dissolution, to the amount of five hundred dollars, all of which went into the hands of the appellant; that all debts and liabilities of said firm had been paid; that there remained in the hands of the appellant assets of said firm of the value of two thousand dollars; that the appellee had frequently requested and demanded of the appellant an accounting and statement of the assets of said firm, and that he be paid the amount found due him; but that the...
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