Page:Federal Reporter, 1st Series, Volume 1.djvu/811

 IN RE HAMILTOK. 803 �and of their accommodation indorsers or aoeeptors, Hamîlton Bros. �Before this agreement was executed William B. Hamilton, the bankrupt, in order to facilitate it, agreed in writing that the proposed settlement with the conjoint firmmightbemade, without in any manner reieasing or affecting bis individual liability as indorser on any of the paper held by the credit- ors, assenting to remain bound as if the settlement had not been made. �Swearingen & Biggs thereupon transferred to Hughes, as trustee for the creditors, ail the assets of the conjoint firm, and paid them the $66,000. �Subsequent to the making of this agreement William B. Hamilton filed Mb petition in bankruptcy, and was duly adjudicated a bankrupt. �1. As to the daim of Swearingen d Biggs. This firm has proven against the individual estate of William B. Hamilton for three-fourths of $100,000 and interest, this being the amount which they were eompelled to pay out of their private means in order to pay o£E the debts of the conjoint firm. By the terms of tho conjoint partnership agreement, as before stated, the profits and losses between the two firmsof Anderson, Hamilton & Co., and Swearingen & Biggs, were to be divided in the proportion of three-fourths to the former and one-fourth to the latter. Swearingen & Biggs contend that, by the rules of law governing partnerships, as by the rules governing joint debtors, each partner is bound to contribute to the other his proportion of the loss which may be paid by that other part- ner in excess of that partner's own proportion ; and that, in event of any partner being insolvent, the others and solvent ones must be assessed the portion of the insolvent ones also. �Anderson, Hamilton & Co. being insolvent and worthless, Swearingen & Biggs now claim the right to prove against William B. Hamilton, the only partner in said firm having assets, upon the ground that they have paid ail the debts of the partnership, and that William B. Hamilton is responsible individually to them for three-fourths of the losses incurred in their conjoint business. ��� �