Nathan Clifford

Name: Berthold v. Goldsmith — Opinion of the Court
Author: Nathan Clifford

Berthold v. Goldsmith — Opinion of the Court

Summary

“Berthold v. Goldsmith — Opinion of the Court”, is a work by Nathan Clifford. It explores elements such as profits, plaintiff and partnership.

Quotes from Berthold v. Goldsmith — Opinion of the Court (Nathan Clifford)

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ On the other hand, it is equally clear that there may be such a community of interest in the profits without regard to loss, and without any community of interest whatever in the property as will establish that relation. Participation in the profits, however, will not alone create a partnership between the parties themselves as to the property, contrary to their intention. But merchants and traders are often justly held to be partners as to third persons, where they are not to be deemed such, expressly or impliedly, as between themselves. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ But partnership and community of interest, independently considered, are not always the same thing; for the first, as between the partners themselves, is founded upon the copartnership agreement which prescribes the relation they bear to each other, and of itself creates the community of interest ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Actual participation in the profits as principal, we think, creates a partnership as between the parties and third persons, whatever may be their intentions in that behalf, and notwithstanding the dormant partner was not expected to participate in the loss beyond the amount of the profits. Every man who has a share of the profits of a trade or business ought also to bear his share of the loss, for the reason, that in taking a part of the profits, he takes a part of the fund of the trade on which the creditor relies for payment. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ That rule, however, has no application whatever to a case of service or special agency, where the employee has no power as a partner in the firm and no interest in the profits, as property, but is simply employed as a servant or special agent, and is to receive a given sum out of the profits, or a proportion of the same, as a compensation for his services. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Part owners of a ship, for example, are uniformly treated as tenants in common, and not as partners, although it cannot be denied that there is a community of interest between them in every part of the vessel, and each is entitled to a share of her earnings in proportion to his undivided interest, and must also share the loss. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Where a broker or other agent purchases goods for several persons, each agreeing to take a certain portion of the entire parcel, it is clear, if there is no arrangement that the goods shall be sold on joint account, that the transaction does not amount to a partnership, although there is undeniably a community of interest in the goods so purchased. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Partnership is usually defined to be a voluntary contract between two or more competent persons, to place their money, effects, labor, and skill, or some one or all of them, in lawful commerce or business, with the understanding that there shall be a communion of the profits thereof between them. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Merchants are obliged to have clerks, and oftentimes find it necessary to employ brokers or special agents to effect sales, and it is no more detrimental to their creditors that such employees should be paid out of the profits of their trade than from any other source of income within their disposal. Unless the supposed dormant partner is in some way interested in the profits of the business, as principal, it is plain that he cannot bring suit as a partner, and go into equity and compel an account ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Little or nothing was ever realized from the enterprise, and of course no excess of profits over the amount of the guaranty was ever earned. It is quite obvious, therefore, that the theory of the defendants on this branch of the case cannot be sustained.
2. It is insisted by the defendants that Hook was the agent of the plaintiff, and as such that he had authority to withdraw the cigars from their custody and control, and turn them over to the other firm. ”

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Source: Wikisource

Nathan Clifford, Berthold v. Goldsmith — Opinion of the Court

“ Among other things, they also instructed the jury, that there was no evidence to show any authority from the plaintiff to turn the cigars over to an auctioneer to be sold, and that the plaintiff, therefore, was entitled to recover the net proceeds of the cigars sold, either by the defendant or Hook, if the latter was authorized to negotiate sales, and the market value at St. ”

Nathan Clifford

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