26 Iowa 422 | Iowa | 1868
On the part of-the defendant, on the other hand, the argument is that the defendant did not, by entering the
Thus, in a condensed form, we have the several propositions advanced by counsel. It will be observed that there is no suggestion that the sale by the retiring member of the firm of Yirgin & Brother, was in bad faith. Nor is the honesty of the transaction between appellant and J. M. Yirgin, in the least assailed. There is nothing to show that the goods- were sacrificed, or sold for less than their full value under the mortgage.. Nor is it established that the defendant owes the firm or that in final settlement he is liable to pay his partner or the firm creditors one dollar. -Even if-plaintiff could be subrogated to Yirgin’s rights, we do not know what these are. That the goods were sold by plaintiff to the old firm, or that the other firm goods were used to pay appellant’s debt would not, without more, compel him to pay this debt. Plaintiff had no lien. This is conceded. The partners are interested in having the property applied to the partnership debts, and this right they may assert in equity.
Reversed.