Cox V. Hickman in Europe
Definition of Cox V. Hickman
((1860), 8. H. L. C. 268). The true test of partnership is not sharing profits, but the existence of such a relation between persons sharing profits that each of them is a principal and each of them an agent for the others
A firm, Smith & Co., became insolvent and executed a deed of arrangement with their creditors, by which Smith & Co. assigned their property to trustees to carry on the business as the Stanton Iron Co., and pay the creditors out of the net profits. One of the trustees accepted a bill drawn on the Stanton Iron Co. in connection with the business. Held, the creditors were not constituted partners by the deed of arrangement, and were not liable on the bill, as the business was carried on on behalf of the Stanton Iron Co., whose agents the trustees were
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Definition of Cox V. Hickman is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.
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