Calvert v. Wilson - Mr. Pollock, with whom was Mr. Creswell appeared for the Plaintiff. Mr. Williams and Mr. Blackburne for the Defendant.
This was an issue out of the Court of Chancery, which arose out of the bankruptcy of Mr. Tute, formerly a dyer in Leeds; and the question was whether it was a bargain between him and his late partner, Mr. Calvert, that Mr. Tute should be charged with five per cent. interest for all the monies he had taken out of the partnership, and whether Mr. Calvert was to have credit for the same. The real defendants in the cause were Messrs. Perceval and Bray, the assignees of the bankrupt.
Mr. Tanner, accountant, of Leeds, was of the opinion that the effect of the entries made in the ledger in reference to the interest was only to give Mr. Calvert five per cent. on his own separate account.
Mr. Joseph Gascoigne, the cashier of Messrs. Thos. Clapham and Co. of Leeds, who was called on the part of the defendant, was of opinion that the effect of the mode of charging Mr. Tute with five per cent. and giving credit to Mr. Calvert five per cent. was to make Mr. Tute pay ten per cent.
Mr. Justice Alderbon? said, the real question the Jury had to try was this: - Did Mr. Tute agree to pay five per cent. interest to the partnership, or to Mr. Calvert on his own separate account; if to the former the defendant was entitled to a verdict, if to Mr. Calvert, that was in substance an affirmative answer to the issue; for the entries in the ledger did no more than carry this agreement into effect.
The Jury without troubling his Lordship to recapitulate the evidence, found a Verdict for the Plaintiff, which was an affirmative answer to the issue.