Lucius Quintus Cincinnatus Lamar

Summary

Lucius Quintus Cincinnatus Lamar Abendroth v. Van Dolsen — Opinion of the Court

The latter judgment also holds Abendroth to be a special partner, and as such liable, under the statute, in the same manner that he would be if he were a general partner. This is shown in the opinion of the court, which very properly holds that the statute, in fixing this liability on account of non-compliance with its provisions, does not change his special partnership into a general one, but simply makes him liable as a general partner to creditors. All his relations to his copartners, and their obligations growing out of their relation to him as a special partner, remain unimpaired.
Source: Wikisource

Lucius Quintus Cincinnatus Lamar Abendroth v. Van Dolsen — Opinion of the Court

In our opinion an adjudication of the bankruptcy of a firm, and of the members in whose name the firm was doing business, in a bankrupt proceeding affecting them alone, to which a special partner was not a party, does not estop a copartnership creditor from setting up the liability of such special partner imposed upon him by the statute for noncompliance with its provisions.
Source: Wikisource

Lucius Quintus Cincinnatus Lamar Abendroth v. Van Dolsen — Opinion of the Court

But as a determination of the legal status of a person not a bankrupt, and who was not a party to the proceeding, and whose status as a bankrupt has never been a question before the court, it unquestionably is not binding upon any person not a party to such proceeding. In the cases cited by the counsel for plaintiff in error the adjudication either determined the legal status of the bankrupt debtor, or related to the bankrupt estate brought within the jurisdiction of the court. In this case the petition neither asserted nor denied that Abendroth was a member of the bankrupt firm.
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature