The Complete English Tradesman (1839 ed.) by Daniel Defoe
page 243 of 396 (61%)
page 243 of 396 (61%)
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such as he could no ways extricate himself out of, and so both have been
unavoidably ruined together! These cases are so various and so uncertain, that it is not easy to enumerate them: but we may include the particulars in a general or two. 1. One partner may contract debts, even in the partnership itself, so far unknown to the other, as that the other may be involved in the danger of them, though he was not at all concerned in, or acquainted with, them at the same time they were contracted. 2. One partner may discharge debts for both partners; and so, having a design to be knavish, may go and receive money, and give receipts for it, and not bringing it to account, or not bringing the money into cash, may wrong the stock to so considerable a sum as may be to the ruin of the other partner. 3. One partner may confess judgment, or give bonds, or current notes in the name, and as for the account of the company, and yet convert the effects to his own private use, leaving the stock to be answerable for the value. 4. One partner may sell and give credit, and deliver parcels of goods to what sum, or what quantity, he thinks fit, and to whom, and so, by his indiscretion, or perhaps by connivance and knavery, lose to the stock what parcel of goods he pleases, to the ruin of the other partner, and bring themselves to be both bankrupt together. 5. Nay, to sum up all, one partner may commit acts of bankruptcy without the knowledge of the other, and thereby subject the united stock, and |
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