Samet v. . Klaff

107 S.E. 2, 181 N.C. 502, 1921 N.C. LEXIS 126

• Court: Supreme Court of North Carolina
• Decided: April 27, 1921
• Status: Published

Opinion

Pee Cueiam.

The contract as found by 'the referee is as follows :

1. That some time during July, 1918, plaintiff and defendant entered into a contract upon the terms of which plaintiff was to buy iron, rags, and other junk for defendant and defendant was to pay plaintiff thirty-five dollars ($35) per week, all traveling expenses, furnish plaintiff with an automobile, and in addition thereto account with and turn over to plaintiff one-half of all profits arising out of the junk bought by plaintiff.

It also appears from the report that the defendant is charged with one-half the difference between the cash price paid for the different articles bought by the plaintiff and shipped to the defendant and the market value, as profits, without making any deduction on account of freight and other expenses.

“Profit” implies without more, the gain resulting from the employment of capital, the excess of receipts over expenditures (3 Words and Ph., second series, 1251), and so understood the expenses must be deducted before the profits can be ascertained.

The cause is therefore remanded to the end that there may be a further hearing before the referee and a fuller report made.

Remanded.