Page:Federal Reporter, 1st Series, Volume 2.djvu/497

 490 FBDBBAL BBPOBTEB. �These bave been produced and put into the case, and they do not provide that the goods shall so remain the property of the defendant. On this evidence it is found that the goods put into or brought into the business became the property of the firm and belonged to the partners respectively in proportion to their respective interests. �They continued in partnership until February 8, 1877. Their partnership property then inventoried at $5,824.35. By agreement the defendant took out $800 in amount of the goods, and sold his interest in the residue to Flack for $500 in cash, and his notes of $500 each for the balance, to be- come due in six, twelve, eighteen and twenty-four months. Mack's $1,500 had remained in ail the while. The defendant had put in goods and drawn out money in amounts not defi- nitely stated, and it is difficult to determine how much he had in at that time. Upwards of $400 of the inventory rep- resented accounts and fixtures which he did not buy. In view of the priee he sold at, $3,000 must be a liberal allowance for his share of the remaining $4,500, and a little over. On the whole it is found that his interest in what Flack had of the firm was $3,000, and Flack's $1,500, so that he owned two-thirds and Flack one. The sale was a conditional one, such as the laws of the state recognized, and provided that the goods were to remain the property of the defendant until the notes should be paid, and that ail goods purchased in place of those sold should be substituted for them in the title of the defendant. �Flack continued the business until into October, 1877, sold old goods, bought new, some for cash and some on credit, paid the defendant the note which fell due in that time, but did not pay his other creditors, and became badly insolvent. The defendant leamed of his condition, and, to save himself, bought the stock of goods and fixtures then on hand at about $460 more than his debt, paid $400 in checks, and about $60 in money, delivered up the notes, and took the goods away. Within less, than two months a petition in bank- ruptoy was filed against Flack, upon which he was adjudged a bankrupt, and the orator was appointed assignee of his ����