On the death of a partner, the surviving partner has, under the statutes of many states, the legal title to the partnership property, with power to liquidate the firm's business.1 He cannot bind the firm or the estate of his deceased partner,2 or the executor of his deceased partner,3 by a new contract as by purchasing goods,4 or by giving a note.5 He cannot bind the heirs of decedent by renewing a lease, but their acceptance of rent for one year may ratify the lease for that year.6

Me. 502; 45 Atl. 503; Central National Bank v. Frye, 148 Mass. 498; 20 N. E. 325; Elkinton v. Booth, 143 Mass. 479; 10 N. E. 4G0; Knaus V. Givens, 110 Mo. 58; 19 S. W. 535; Stoddard Mfg. Co. v. Krause, 27 Neb. 83; 42 N. W. 913; Ellison v. Sexton, 105 N. C. 356; 18 Am. St. Rep. 907; 11 S. E. 180; Alexander v. Harkins, 120 N. C. 452; 27 S. E. 120; Robinson v. Floyd, 159 Pa. St. 165; Brown v. Foster, 41 S. C. 118; 19 S. E. 299. Compare Swigert v. Aspden, 52 Minn. 565; 54 N. W. 738; Green v. Bank, 78 Tex. 2; 14 S. W. 253.

20 Thatcher v. Allen, 58 N. J. L. 240; 33 Atl. 284; Evans, etc., Co. v. Hadfield, 93 Wis. 665; 68 N. W. 468.

21 Shapard Grocery Co. v. Hynes, 3 Ind. Ter. 74; 53 S. W. 486.

22 Porter v, Baxter, 71 Minn. 195; 73 N. W. 844.

23 Spragans v. Lawson (Ky.), 60 S. W. 373.

24 Utley v. Clements, 79 Minn. 68; 81 N. W. 739.

25 Adams v. Albert, 155 N. Y. 356; 63 Am. St. Rep. 675; 49 N. E. 929.

1 McKinzie v. United States, 34 Ct. CI. 278; Maynard v. Richards, 166 111. 466; 57 Am. St. Rep. 145; 46 N. E. 1138; Bauer Grocer Co. v. Shoe Co., 87 111. App. 434. The surviving partner of a firm of attorneys must account for fees for services rendered under the old contract. Little v. Caldwell, 101 Cal. 553; 40 Am. St. Rep. 89; 36 Pac. 107.

2 Durant v. Pierson, 124 N. Y. 444; 21 Am. St. Rep. 686; 12 L. R. A. 146; 26 N. E. 1095; Oyster v. Short, 177 Pa. St. 594, 601; 35 Atl. 710, 711.

Even where decedent by will gives the surviving partner power to continue the business, he cannot bind the estate of the deceased partner beyond the amount in the business,7 unless the will specifically provides that he may bind the estate for new debts.8 A surviving partner cannot give a cognovit note for a firm debt,9 though he may confess judgment.10

Proper items of indebtedness incurred by a surviving partner after the death of the other partner will be allowed him by the court in settling accounts.11 He may be credited with expenses necessary to preserve the property, and even with expenses necessary to keep up its value. Thus the surviving partner of a horse-racing firm may be credited with the expenses of caring for and training horses after his partner's death and entering them for stakes.12 If the law requires him to settle his accounts with the partnership at a certain time, and he continues the business beyond such time, he must, in case subsequent losses occur, settle as of the date at which the settlement should have been made.13

3 Mattison v. Farnham, 44 Minn. 95; 46 N. W. 347.

4 Friend v. Young (1897), 2 Ch. 421.

5 Bodey v. Cooper, 82 Md. 625; 34 Atl. 362.

6 Oliver v. Olmstead, 112 Mich. 483; 70 N. W. 1036; Betts v. June, 51 N. Y. 274.

7 Smith v. Ayer, 101 U. S. 320; Burwell v. Cawood, 2 How. (U. S.) 560; Steiner v. Steiner, etc., Co., 120 Ala. 128; 26 So. 494; Pitkin v. Pitkin, 7 Conn. 307; 18 Am. Dec. 1ll; Stewart v. Robinson, 115 N. Y. 328; 5 L. R. A. 410; 22 N. E. 160, 163; Wilcox v. Derickson, 168 Pa. St. 331; 31 Atl. 1080. Contra, where a limited partner had become liable as a general partner by failure to comply with the statute, a provision in the will that the business was to continue was held to charge subsequent debts against the estate.

J. B. Wathen & Bro. Co. v. Carney (Tenn. Ch. App.), 47 S. W. 1115. So Ussery v. Crusman (Tenn. Ch. App.), 47 S. W. 567.

8 Ferris v. Van Ingen, 110 Ga. 102; 35 S. E. 347. Under such a will he can deed realty to secure debts. In this case the surviving partner was made executor. Laugh-lin v. Lorenz, 48 Pa. St. 275; 86 Am. Dec. 592; Davis v. Christian, 15 Gratt. (Va.) 11.

9 Bauer Grocer Co. v. Shoe Co., 87 111. App. 434.

10 Evans v. Watts, 192 Pa. St. 112; 43 Atl. 464. .

11 Wolfort v. Reilly, 133 Mo. 463; 34 S. W. 847. Even for borrowed money. Herron v. Wampler, 194 Pa. St. 277; 45 Atl. 81; Kenney v. Howard, 68 Vt. 194; 34 Atl. 700.

12 Central, etc., Co. v. Respass, 112 Ky. 606; 56 L. R. A. 479; 66 S. W. 421.