Commentaries on American Law
by James Kent (9781458821324)

Commentaries on American Law
James Kent
Release Date: 10 December 0140
Format: Paperback
Pages: 246
Category: Legal History
Publisher: General Books
ISBN: 9781458821324
ISBN-10: 1458821323

Purchase of this book includes free trial access to where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: LECTURE XLIIL OF THE LAW OF PARTNERSHIP. Partnership contracts have heen found, hy experience, to he convenient to persons engaged in trade, and useful to the community. Merchants are therehy enahled to consider their eredit, and extend their husiness. With the aid of joint counsel and accumulated capital, a spirit of enterprise is sensihly awakened, and holdness of plan and vigour of exertion communicated to mercantile concerns. Partnerships have grown with the growth, and multiplied with the extensioa of trade; and the law hy which they are regulated har t heen improved hy the stndy and adoption of the hest usages which the genins of commerce has introduced. It has also heen cultivated and greatly enlarged, under a course of jndicial decisions, until the law of partnership has at last attained the precision of a regular hranch of science, and forms a distinguished part of the code of commercial jurisprndence. In treating of this suhject, I shall consider, (1.) The nature, ereation, and extent of partnerships; (2.) The rights and duties of partners, in their relation to each other, and to the puhlic; (3.) The dissolution of the contract. (1.) textit{Of the nature, ereation, and extent of partnerships. Partnership is a contract of two or more persons, to place their money, effects, lahour, and skill, or some, or all of them, in lawful commerce or husiness, and to divide the profit, and 24] hear the loss in certain proportions (a). The two (a) textit{Po/endorf, Droll de la Nat. lir. 5, ch. 8, 8. 1. textit{Puthier. Tacdle dii coatrat deSocit'te, No. 1. textit{Repertoire rle Jurisprndence, art. textit{Sociele. The French ordinance of 1673, required the contract of partnership to he reduced to writing and registered: hut that was the introduction of a new rule; and...

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