North American merchant (Colonial)
Thomas Boylston entered into an arrangement with Lane, Son and Fraser, American merchants, c. 1781 under which he invested £40,000 in exchange for a share of the profits. When the firm failed in 1793 he denied he was a partner, saying he was merely a lender (at a usurious rate of interest). He was held to be a partner but preferred to remain in prison rather than give up to creditors his assets (which were largely in America).
Francis Vesey, Reports of Cases Argued and Determined in the High Court of Chancery 1789-1817 (1845), Volume 17 pp. 405-408.
American merchants, partnership between Thomas Lane d. 1784, John Lane and Thomas Fraser, bankrupt c. 1793 and involved in litigation as to whether Boylston was a partner or simply a lender of £40,000 at usurious rates of interest.
Francis Vesey, Reports of Cases Argued and Determined in the High Court ...1789-1817 (1845), Volume 17 pp. 405-406.
Partner Share
33%
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