The plaintiff holding a bill of exchange as a security from three partners, after the dissolution of the copartnership, and after the bankruptcy of one of them, takes the notes of one of them as a collateral security, without the knowledge of the other partners and retains, the original security in his hands. This does not discharge the other partners.
Citations:
[1816] EngR 14, (1816-1819) 2 Stark 178, (1816) 171 ER 612 (B)
Links:
Company, Insolvency
Updated: 02 May 2022; Ref: scu.333707