PHI LOS 0 P H Y . - Classic Works of Apologetics Online

CH~1PTER XIII.
CON'l'RACTS OF J~ABOlJI~.
P AR TNERSHIP.
I KNO\V nothing upon the subject of partnership
that requires explanation, but in ,\\7h~t nlanner
the profits are to be divided, ,,7hcre one pariner contribute~
money and the other labour; "7hich is a
common case.
Rule. From the stock pf tile partnership deduct
the sum advanced, ~T}d divide the rem.;inder between
the IIlonied partner, and the labollring p4rtuer~ in
the proportion of the interest of the money to the
wages of the labour., allowing such a. rate of inter-est
as mo.'ley might be borrowed for upon the same se·
curity, and such ,,~ages as a jourlle}~maIl '\liQuId require
for the sanle labour and trust.
Example. A ad\TailCeS a thousand pounds, but
knows nothing of the bU5il1ess; B produces flt) money,
but has been brought up to the bus~ll~sS and undertakes
to conduct ire At the end of tlJe \~ear the
J
stock and the effects of the rartner~hip 3tnOunt to
twelve hundred pountis; consequ~lltly there are t\VC
hundred pounds to be di\~idelJ. Now nobody \vQuld
lend mOl~ey upon the event of the busif!'~sS succeeding,
\\'hich is ..(\'5 sc(:urity, tlndrr ~jx per ccnt.-tIlcre.
fore A must be allo\\ycd sixty- pOUI1ds for tIle interes i
of his meney. B, before he engaged in the partner.
~.hip, earned thirt)' pounds a J:ear ~ll tIle sanle em ..
ployment; his labour, therefore, ought to':pe valued
at thirty -pounds; anu the t\\·o hUlldred poupds must
be divided bet\Veell the partners, in the proportion
of cixty to thirty·; that is, A must receive one huhdredand
thirty-three pounds six shillings and eight
pence, and B sixtY-,six pound~ thirteen shillings and
four pence.'
If there be nothing gained, A.~ lost '$ his interest, and
B hr::; labour, which is right. !f '~he original stock