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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Schneider v. Schneider, 146 S.W.2d 584 (1941)

Citation
Schneider v. Schneider, 146 S.W.2d 584 (1941)
Parent Document
Schneider v. Schneider, 146 S.W.2d 584 (1941)
Jurisdiction
Missouri (state)
Effective Date
1941-01-04

Other Sections in This Document (37)

Full Text

1,410 chars
manner lie disallowed an item of indebtedness to Elmer Schneider for money advanced by'him in the payment of insurance premiums; It is obvious that the business could not be conducted unless a biiildiiig Were rented from someone and unless insurance policies were carried. Reasonable charges therefore for such items are proper liabilities to be considered, and the fact that such items were owed to two of the defendants could not affect the case. It cannot be said that the balance sheet would correctly reflect the original partnership assets plus subsequent corporate profits unless these expenses were taken into account. The referee should, therefore, have determined whether the charges made were reasonable and just and allowed them at a proper figure. Another item disallowed was for advances alleged to have been made to the business by Lillie Schneider, wife of the defendant Elmer Schneider. Here again if money were actually advanced by her and went to increase the corporate assets, the items should be taken into consideration. As to some of the items of indebtedness to her there is some question, but the referee made no finding as to the amount actually furnished by her but disallowed the entire amount. The referee properly disallowed the salary claim of Elmer Schneider. As one of the original wrongdoers and as a partner his rights should be limited to a 1/3 participation in the profits.