44 Minn. 112 | Minn. | 1890
The appellants duly presented to the respondent, the assignee of Shotwell, Clerihew & Lothman, for allowance against their insolvent estate, a claim amounting to $77,864, being a balance of $62,680.13, with interest, claimed to be due from the firm for moneys loaned and advanced to them at divers dates in the year 1884. This claim was rejected and disallowed, on the ground that the same was settled and merged in a special contract made between Shotwell, Clerihew & Lothman and William Clark, one of the members of the firm of George Clark & Bro., on the 31st day of January, 1885, being a part of the sum of $150,000 therein mentioned, and which agreement recites: “Whereas, the party of the first part has loaned and advanced to the parties-of the second part, in addition to certain other moneys, the sum of $150,000, to be used and employed by the said parties of the second part in the conduct and management of their copartnership business,” and ip which it was mutually agreed, upon sufficient consideration therein recited, and under the hands and seals of the respective parties, that no part of the said sum of $150,000 should become due and payable until Jan
It appears that the firm of George A. Clark & Bro. is a partnership engaged in a very extensive business in Scotland, and have a branch house in this country, located in the city of New York. None of the members of the firm reside in this country, or have any personal supervision of the business of the firm here, except William Clark. One Bobert Cumminghas been the agent of the firm, in charge of its books, and having the general management of its finances in this country, for more than eight years past. In the year 1884, Cumming, as
These are the controlling questions in the case, and the only ones which it is found necessary to consider.Order affirmed.