Pennsylvania, that if all the members of a firm sell or mortgage their respective interests the firm creditors lose their priority in the distribution of the firm assets, because the partners having parted with their interests have no longer any equity to have the firm property applied to pay the firm creditors.
The true view seems to be, that a court of equity or of bankruptcy, regarding the firm as an entity distinct from its partners, applies its property to the payment of its debts, and treats the fictitious person, the firm, in the same way that a real person would be treated. Of course, therefore, only what remains after the firm creditors are satisfied can go to the partners or their separate creditors.
The typography and general appearance of the book are exceptionally good, and the less important matter is put in smaller type, so that a rapid exanmination of general principles is possible. It is not too much to say in conclusion, that for an American lawyer the book will be found the most useful treatise on the law of partnership. S. WV
A Nanual of Business Corporations. By George F. Tucker. Boston: George B. Reed. Large 12mo. xviii and 285 pages.
This little manual does not attempt to cover the same ground as larger works on buisiness corporations. It is a book of Massachusetts law, and relates chiefly to mercantile and manufacturing corporations, but some slight reference is made to railroad and insurance companies, and charitable societies. Little or no discussion of principles or theories is to be found, and conciseness is everywhere sought. The object is to furnish a hand-book in which may be found the statutory provisions in regard to corporations, the forms necessary for their formation, management, and winding up, and a brief statement of the points decided in the Supreme Courts of the United States and of Massachusetts, relating to the subject treated. Occasional reference is also made to cases in other jurisdictions. It makes a useful and time-saving volume. Reference to it will frequently take the place of a prolonged examination of statutes and cases scattered through many volumes.
S.W.
BOOKS REVIEWED
A Catalogue of Law works Published By Stevens & Sons: 119 chancery lane, london, w.c. 1888.: II9 Chancery Lane, London, W.C. 1888.
The Law of Sales Personal Property. By Nathan Newmark. Bancroft-Whitney Co.: San Francisco. 1887.
The Mercantile Law of England and The United States. By John William Smith, with Notes by Carter P. Pomeroy. Bancroft- Whitney Co.: San Francisco. 1887.
Shortt On Informations [Criminal and Quo Warrantol], Mandamus, And Prohibition. American notes by Franklin Fiske HIeard. Boston: Chas. H. Edson & Co. 1888.
Essential of The Law. Vol. III. Comprising the essential parts of Pollock on 'rorts, Williams on Real Property, and Best on Evidence. By Marshall D. Ewell. Boston: Charles C. Soule. 1888.
The Conflict of Judicial Decisions. By William H. Bailey. Baltimore: M. Curlander. 1888.
