This section is from the book "Popular Law Library Vol8 Partnership, Private Corporations, Public Corporations", by Albert H. Putney. Also available from Amazon: Popular Law-Dictionary.
And if a partner becomes the purchaser of claims against the firm, he can charge against the firm only what he paid.27
And a partner must account for commissions and rewards received on account of partnership business.28
It is also an implied condition in the partnership relation that no partner will carry on a competing business against the interest of the partnership, and if he does so he must account for profits.29
26 Leach vs. Leach, 18 Pick, 68;
Chittenden vs. Witbeck, 60
Mich., 401. 27 Filburn vs. Ivers., 92 Mo., 388;
------vs.------, 57 Iowa, 506.
28 Hodge vs. Twitchell, 33 Minn., 389; Grant vs. Hardy, 33 Wis., 668.