M'Kim v. Fulton
M'Kim v. Fulton, 10 Va. (6 Call) 106 (1806), was a case regarding the execution of promises made at a business partnership's dissolution.
John Davies and Alexander Fulton entered into a trader partnership. In 1798, three years later, both parties agreed to dissolve the partnership. The parties agreed that Davies would relinquish all his interest in the partnership to Fulton. In consideration, Fulton agreed to pay Davies $36,150, pay all Davies's debts from the firm, and to indemnify Davies from any addition debts related to the firm. On November 4, 1798, Davies died and bequeathed his property to his widow and two infant children. M’Kim, the administrator of Davies estate, sued Fulton to recover the funds promised to Davies which had since been used by Fulton to capitalize a partnership he subsequently formed with his brother. M'Kim also requested relief from the debt balance Fulton failed to pay while a partner with Davies.
The Court's Decision
On October 4, 1805, Chancellor Wythe, without deciding whether the endorsements on the subpoenas in the case amounted to attachments, discharged the debt. The Court of Appeals reversed.
- ↑ Daniel Call, Reports of Cases Argued and Decided in the Court of Appeals in Virginia, (Richmond: R. I. Smith, 1833), 6:106.