Kimberly's Appeal... Knoderer v. Merriman. Lafferty's Appeal Large v. McClain.......... List ads. Shafer.... Kelly ads. Humboldt Fire Ins. Co.. 496 Keystone Bridge Co.'s Appeal... Kiel v. Harris.... 661 Parker v. Morgan... 686 Patterson's Appeal. 409 Patterson v. Colmer.. Killbuck Township ads. Huddleston 488 Patterson ads. Johnston Kile v. Geibner.... Kilgore ads. Gumbert.. 508 Pennsylvania R. R. ads. Arnold.... 711 Pierce's Appeal.. Langdon ads. Chartiers Township.. 426 Pittsburg City, Appeal of. 384 Pittsburg, etc., Ry. Co. ads. Bidwell. 421 Long ads. Iron City Tool Works.... 392 Pittsburg, etc., Ry. Co. v. Kane.... 388 Painters' Appeal 10 19 401 424 506 935 717 528 529 139 613 Titusville etc., Ry. Co. ads. Davis.. 160 Dow ads. Perry Tonkin v. Baum..... 682 R. R.... 467 82 505 Dyer ads. Kopper 75 Uhlinger ads. Hartranfts Vanuxem v. Bostwick.... Wallace ads. Commonwealth.. THE EASTERN REPORTER. NEW JERSEY COURT OF CHANCERY. BANK OF RED BANK 2. FARR. Each member of a partnership, and the copartnership itself, in dealing with partnership property is subject to the same legal rules as an individual. One member of the firm cannot transfer partnership property with or without the knowledge or consent of the other members of the firm in violation of the rights of firm creditors; and a transfer in fraud by one cannot be upheld, even though the others join therein ever so innocently. Where one member of a firm has induced his copartners to transfer to him all their interest in the firm property, for the purpose of swelling the assets to be distributed upon his insolvency among his individual creditors, equity will intervene at the instance of firm creditors to declare the transfer void. The fact that the individual creditors had filed their claims with the insolvent's assignee will not affect the rights of partnership creditors in this respect. In such a case a creditor has no standing in equity until his claim is in judg ment. Bill to declare a transfer of firm assets to an individual partner, void. The opinion states the case. J. S. Applegate and F. W. Hope, for complainant. A. C. Hartshorne, for Haggerman & Fielder. W. S. Stuhr, for John C. Farr. Collins & Corbin, for Arnold. BIRD, V. C. Farr, Haggerman and Fielder formed a copartnership. Farr's interest was one-half, the others each one-fourth, each of whoin gave a note to Farr for $7,500, with the agreement that said notes were to be paid out of their respective shares of the profits of the business. The name of the copartnership was J. C. Farr & Co., and this firm was the successor of the firm of Sullivan & Co., the debts of which firm were assumed by the former. The firm of J. C. Farr & Co. continued in business a little over three months when, on October 29, 1883, it was dissolved. The dissolution was effected in this way: Farr was largely indebted individually to creditors living in Albany and elsewhere, because of which he was unquestionably embarrassed. He informed his copartners that he was indebted individually, without giving them any statement in detail of the extent of his liabilities or the value of his assets, but assuring them that he was free from any real embarrassment, and desiring them to transfer to him all their interest in the firm of J. C. Farr & Co. He prevailed upon them, by his VOL. XI.-1 |