Partnership — Dissolution — Date — Decree, nisi — Ownership of surplus — Accounting — Share of profits — Compensation to partner for surplus after dissolution — Amount for which business could have been sold.
In a proceeding in equity for dissolution of a partnership, it was Held that (1) the decree nisi of the chancellor, approved by the court en banc, and affirmed by the Supreme Court on appeal, had dissolved the partnership and established at that time the ownership of the surplus; (2) the defendant partner in possession thereafter was not entitled to any remuneration above that of plaintiff, his co-partner, for services performed; (3) defendant's account during the time he was in sole possession was inaccurate and there was due plaintiff a share of the profits in a specified sum; and (4) plaintiff was entitled to one half the amount for which the business could have been sold at the time the receiver would have taken possession had not defendant interfered.
OPINION PER CURIAM, November 13, 1950:
The decree is affirmed on the amended adjudication of the learned chancellor as confirmed by the court en banc.
Decree affirmed at appellant's cost.