McNENY v. TOUCHSTONE (1936)

District Court of Appeal, First District, Division 2, California.

McNENY v. TOUCHSTONE et al.*

Civ. 10004.

Decided: February 29, 1936

James E. Neville, of Los Angeles, for appellant Blake Touchstone. Loyd Wright and Charles E. Millikan, both of Los Angeles, for appellant Weatherford W. Touchstone. Shaw & Bailey and Charles D. Shaw, all of Los Angeles, for respondent.

The main point made in respondent's petition for rehearing is that the decision herein is in conflict with Citizens' National Trust & Savings Bank v. W. L. McNeny (Cal.App.) 52 P.(2d) 492. There is an apparent conflict between the last paragraph of the opinion in that case and the last paragraph of the opinion herein, but we adhere to the views heretofore expressed. The agreement here not only dissolved the partnership, but it completely wound up the partnership business and the partnership affairs. There was no longer any partnership property, nor did the parties have any further rights as partners. All of their rights as partners had ceased when the agreement was executed and their rights thereafter were purely contractual rights held by them as individuals and not as partners by virtue of the terms of the agreement. As we are of the opinion that the “partnership affairs” had been completely wound up by said agreement, we conclude that the provisions of section 2424 of the Civil Code did not result in the continued existence of the partnership after the execution of the agreement.

The petition for rehearing is denied.

PER CURIAM.

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