79 Iowa 23 | Iowa | 1890
The plaintiffs claim that the creamery association was a partnership, and that the plaintiffs, having paid a partnership debt, are entitled to contribution from the defendants. The defendants claim that, under the articles of association, they are not liable to the plaintiffs as partners, nor in any other right. To the end that the relation of the parties to each other may be fairly understood, it is prop>er that a brief statement should be made of the facts attending the organization of the association, and the manner in which its affairs were transacted.
It appears from the record that on the third day of March, 1883, a meeting was held at a school house in Bradford township), Chickasaw county. The object of the meeting was to organize a creamery association. A temporary organization was effected, and the meeting adjourned until March 10. At the adjourned meeting it was determined that an association should be formed and incorporated, and a plan of organization was adopted by which the capital stock should consist of one hundred shares of ten dollars each. At this meeting some seventy shares of stock were subscribed by the persons present, including the plaintiffs, and pjart, and pmssibly all, of the defendants. Officers of the association were
One provision of the articles of the association was as follows: “Art. 7. The company may, whenever necessary for the carrying on the business, or for purchasing any necessary tools, implements, materials,