Breard v. Blanks

26 So. 618, 51 La. Ann. 1507, 1899 La. LEXIS 589
CourtSupreme Court of Louisiana
DecidedJune 22, 1899
DocketNo. 13,184
StatusPublished
Cited by1 cases

This text of 26 So. 618 (Breard v. Blanks) is published on Counsel Stack Legal Research, covering Supreme Court of Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Breard v. Blanks, 26 So. 618, 51 La. Ann. 1507, 1899 La. LEXIS 589 (La. 1899).

Opinion

The opinion of the court was delivered by

Nicholls, O. J.

This is a suit for the settlement of a partnership - between the plaintiff and defendant, involving the ascertainment of the interest of each partner in the profits made in operating a saw and planing mill; the share of each in the proceeds of the sale of a lot of lumber acquired by the partners when they purchased the mills, an account of which was kept separately from the sales of lumber manufactured by the firm, and the distribution of the money realized-by a sale of the plant at the termination of the partnership.

The plaintiff alleges that on the 2nd day of October, 1897, the defendant. at sheriff’s sale, acquired of the property formerly composing the sawmill site of the Sheets Lumber Go., Limited, in Ouachita parish, five acres of land, with the residence, buildings and improvements thereon, for the price of three thousand and fifty dollars, also fifty-eight acres of land, for the price of one thousand, four hundred and twenty-five dollars.

That on or about the 4th of December, 1897, he. acquired in conjunction and in indivisión with the defendant, at sheriff’s sale, of the property of the Sheets Lumber Oo.,-Limited, a certain described tract of land containing fifteen and eight-tenths acres, together with the sawmill and planing plants, tramways, machinery, etc., thereon; and a lot of lumber upon the same, for the price of five thousand five hundred and twenty-five dollars, of which he paid one-half the price.

That he then began to operate and conduct said saw mill in partnership with defendant, under the name and style of the.Pargoud Lumber Oo., the partnership being composed of himself and defendant as equal partners.

That it was understood at the time of the formation of said partnership, that the property acquired by defendant in October, should be put into and made a part of the assets of the partnership, and defendant continually promised during the existence of the partnership to convey an undivided half of the property to petitioner for the price and sum at which he had acquired said half interest, but he failed to carry out his agreement during the existence of the partnership.

That during the time the partnership was in existence valuable and [1509]*1509permanent improvements were made by the firm to the property belonging to petitioner and Blanks, the defendant, by the purchase of machinery, which cost two thousand and seven hundred and ninety-eight dollars.

That said saw and planing mills belonging to the parties were operated and the business in connection therewith was conducted for joint benefit of petitioner and his partner, until the 19th of May, 1898, when it was dissolved by a sale of all the partnership property.

That the firm business was prosperous; that the lumber which he and defendant bought with the mills was sold for their joint account and brought the sum of eight hundred and three dollars and ninety-eight cents; and that the lumber manufactured by the firm sold for at least twelve thousand dollars; that after deducting all expenses of operation, petitioner’s share of the net profits amounts to at least three thousand dollars, if not more, which, in addition to one-half of the eight hundred and .three 98-100 dollars, he is entitled to recover.

That about the 19th day of May, 1898, petitioner made a deed to defendant of hfs undivided half interest in the property belonging to them as aforesaid, to enable defendant to consummate a sale of the same, which lie made, to a third person.

That defendant paid petitioner no part of the price stipulated in said deed to have been paid, and he gave petitioner a counter letter in which he acknowledged that fact, and that payment was to be made in the settlement of the affairs of the Pargoud Lumber Co., and said price was arbitrary and did not represent the real value of his interest.

That after the execution of said deed, defendant sold all of said property to the St. Louis Eau Claire Lumber Co., for twenty-five thousand dollars; five thousand dollars of said price being included in the price stipulated in a deed from the defendant and John P. Parker, to the same company, of an undivided three-fourths interest in 647 acres of land for the purpose of concealing from petitioner the fact that -the property belonging to him and defendant had sold for twenty-five thousand dollars, the lands sold by defendant Blanks, and Parker having really been sold for $750, instead of $5750, as expressed in that deed.

That on a settlement of the partnership he is entitled to recover ■one-half of said sum of twenty-five thousand dollars, less- one-half of the price paid by defendant for the property purchased by him at [1510]*1510sheriff’s sale, iu October, 1897, in pursuance of the agreement of defendant to the effect that' same should become partnership property,- and in the event the court should hold that said agreement was not binding on defendant, he was entitled to share in the aforesaid sum of twenty-five thousand dollars, in the proportion that the price paid: by defendant and himself for the property owned by them, to-wit: five thousand five hundred and twenty-five dollars ($5,525), added to-the cost of the improvements made thereto, to-wit: The sum of two' thousand seven hundred and ninety-eight dollars and eighty-one cents-($2,798.81-100), aggregating the sum of eight thousand and three1 hundred and twenty-three dollars and eighty one-cents ($8,323.81-100) bears to the price by him paid to Blanks for the property acquired individually.

That at the termination of the business the defendant took control of the assets of the firm, received all monies realized from sales of lumber and earnings of the business; collected all amounts due the firm; disposed of all property belonging to it; receiving the price therefor, and is now in possession of all funds so received.

That he had been unable to obtain a settlement. of the partnership and to obtain payment of the sums due him by defendant, and that he had received out of the business two thousand, seven hundred and sixty-two dollars, and fifty cents, on account, and in partial settlement of his-interest in the partnership.

That his interest in the partnership is' worth at least ten thousand dollars, exclusive of the said sum so- paid to petitioner and that defendant will owe him on a settlement (exclusive of said amount received), that amount, if not more. '

He prayed for citation; that the partnership be settled and liquidated; that his interest in the assets of the partnership and Hs share in the profits and value of all property formerly belonging to the-partnership, and to petitioner, and to defendant, and sold by defendant, and of all monies collected and received by Em for account of said partnership, be ascertained and that he have judgment against defendant for ten thousand dollars, or for whatever sum should be found due him on a settlement of the partnership, with legal interest from judicial demand.

Defendant first pleaded an exception of no cause of action. He then answered, pleading first the general issue.

He averred that on the 18th of May, 1897, when a receiver was ap[1511]*1511pointed to the Sheets Lumber Co., Limited, it was largely indebted to the Merchants and Farmers’ Bank, of which defendant was then and was still president, and to the Ouachita National Bank, of which plaintiff was then and was still president.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

J. B. Levert Co. v. John T. Moore Planting Co.
64 So. 987 (Supreme Court of Louisiana, 1914)

Cite This Page — Counsel Stack

Bluebook (online)
26 So. 618, 51 La. Ann. 1507, 1899 La. LEXIS 589, Counsel Stack Legal Research, https://law.counselstack.com/opinion/breard-v-blanks-la-1899.