me states regulate his
duty in this regard; it is one that he cannot safely omit.
Should a partnership fail, the general rule with respect to the assets
is the partnership property must be used to pay partnership debts, and
the individual property of partners to pay their individual debts. If
a partner has anything left after paying his individual debts, it must
be devoted to paying the partnership debts. If the partnership has
anything left after paying its debts, this belongs to the partners in
accordance with their agreement in contributing it and the earnings,
and must be devoted to the payment of their individual debts.
Lastly concerning the authority of a liquidating partner. He can do
many things, give renewal notes, make indorsements, collect debts due
the partnership, and even revive an outlawed debt. Of course the
affairs of a partnership may be settled by some other person than a
partner; not infrequently a receiver is appointed who acts under the
order of the court that appointed him.
An agreement between a liquidating partner and the other partners, to
take all the property and pay all the debts, is limited in its effect
to themselves and does not affect others. After the partnership assets
have been transferred to a liquidating partner, or to any other person
for liquidation, a debtor who has notice of the transfer is not
justified in making a settlement with any one else. And if he should
do so, the liquidator could require him to pay again to himself.
=Patent.=--In the United States the thing patentable is a new and
useful art, machine, manufacture or composition of matter, or new and
useful improvement thereof, or new, original and ornamental design for
an article of manufacture. An idea, principle or law of nature is not
patentable, but only the means for utilizing the idea or principle.
Many a great discovery has slipped away from the inventor or
discoverer, because he sought to hold the discovery or invention of
the principle as his own, instead of limiting his claim to the means
or methods of putting his principle into use. Morse's invention of
telegraphy is one of them. An art or process is patentable as well as
machinery, though the inventor may not know the abstract principles
involved in his art. But he must know and describe the steps by which
the result is accomplished. A composition of matter is a mechanical
mixture or chemical combination of two or more substances; and an
improveme
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