120 Iowa 93 | Iowa | 1903
On the 27th day of February, 1899, Bigelow & Smith executed to plaintiff their promissory note, payable on or before July 1st following, and recovery for the balance remaining unpaid is sought against Smith. He interposed the defense that about February 10, 1900, the above firm was dissolved, and succeeded by Biglow & Bige-low, to whom plaintiff agreed to look for the payment of this note and release defendant therefrom, and that, “as a consideration for said agreement, he turned over his interest in the property of the firm of Bigelow & Smith to Bigelow & Bigelow.” Appellant insists that the issue with respect to consideration was not properly submitted bo the jury. For the purpose of determining this question,-it will be necessary to set out the testimony of defendant: “I retired from the firm of Bigelow and Smith the
A dissolution of a partnership daes not necessarily involve the disposition of its property, nor a settlement between partners. The power to wind up its business, settle its accounts, and distribute the assets continues after dissolution. The Western Stage Co. v. Walker, 2 Iowa, 504. See note to Gilmore v. Ham, 40 Am. St. Rep. 562. Nevertheless the court instructed the jury, in the