Horace Gray, Karrick v. Hannaman — Opinion of the Court
“ It is universally conceded that a contract of partnership, containing no stipulation as to the time during which it shall* continue in force, does not endure for the life of the partners, or of either of them, nor for any longer time than their mutual consent, but may be dissolved by either partner at his own will, at any time. ”
Horace Gray, Karrick v. Hannaman — Opinion of the Court
“ No partnership can efficiently or beneficially carry on its business without the mutual confidence and co-operation of all the partners. Even when, by the partnership articles, they have covenanted with each other that the partnership shall continue for a certain period, the partnership may be dissolved at any time, at the will of any partner, so far as to put an end to the partnership relation and to the authority of each partner to act for all, but rendering the partner who breaks his covenant liable to an action at law for damages, as in other cases of breaches of contract. ”
Horace Gray, Karrick v. Hannaman — Opinion of the Court
“ A court of equity doubtless, will not assist the partner breaking his contract to procure a dissolution of the partnership, because, upon familiar principles, a partner who has not fully and fairly performed the partnership agreement on his part has no standing in a court of equity to enforce any rights under the agreement. ”
