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United Kingdom House of Lords Decisions |
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You are here: BAILII >> Databases >> United Kingdom House of Lords Decisions >> Alexander Gray, W.S. v. Messrs Douglas, Heron, and Co., late Bankers in Ayr, and George Home, Esq., Factor for the Partners of the said Company [1779] UKHL 6_Paton_800 (10 February 1779) URL: http://www.bailii.org/uk/cases/UKHL/1779/6_Paton_800.html Cite as: [1779] UKHL 6_Paton_800 |
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Page: 800↓
(1779) 6 Paton 800
CASES DECIDED IN THE HOUSE OF LORDS, UPON APPEAL FROM THE COURTS OF SCOTLAND.
No. 148
House of Lords,
Subject_Partnership — Liability to Contribute for Payment of Company Debts. —
Held the appellant liable to contribute his proportional share of the debt owing by the Company, he being a partner of the Company.
The appellant was an original partner of Douglas, Heron, and Co. He was of the committee named by the subscribers for regulating their plan of operations, and was present, either personally, or by proxy, at seven of the nine general meetings of the partners, which were held during the subsistence of the Company, as a banking society. He was, therefore, it was stated, in the full knowledge of the Company's transactions. The Company having become insolvent in June 1772, the question for determination was, Whether the appellant, in these circumstances, could decline paying his share, along with the other partners, of the money which it was necessary for each partner to contribute, in order to pay the debts of the Company?
The appellant had only paid up £200 of his subscribed capital of £500; and the present action was raised against him for the £300, and for an additional call of £200 to pay off the debts.
Page: 801↓
Jan. 24, 1779.
The Lord Ordinary decerned against him for these sums. On representation, the Lord Ordinary pronounced an interlocutor refusing. On reclaiming petition, the Court pronounced this interlocutor:—
“Adhere to the interlocutors of the Lord Ordinary reclaimed against, and refuse the desire of the petition: Find expenses due, and allow the pursuers to give in an account thereof.”
And of this other date, the Court pronounced this interlocutor.—“The Lords modify the within account to £8, 8s. 11d. sterling, and decern.”
Against these interlocutors the present appeal was brought.
After hearing counsel,
It was ordered and adjudged that the interlocutors complained of be, and the same are hereby affirmed.
Counsel: For the Appellant,
Ja. Wallace,
A. Macdonald.
For the Respondents,
Al. Wedderburn,
Henry Dundas,
Ilay Campbell.
