(t) Whitman v. Leonard, 3 Pick. 177.

(u) Leaf v. Coles, 12 E. L. & E. 117.

1 Whether death will work a dissolution in a partnership or voluntary association composed of many members depends upon the intention as gathered from the terms and character of the organization. Jones v. Clark, 42 Cal. 180; Machinists' Nat. Bank v. Dean, 124 Mass. 81; Walker v. Wait, 50 Vt. 668, See Dufheld v Brainerd, 45 Conn. 424. - K.

Mr. Justice Story and Mr. Chief Justice Parker, that it may well be doubted whether the rule of law should not be that absolute insanity *or any equivalent disability, operates at once, and ipso facto, a dissolution. (v) But it is said that a decree of dissolution for the cause of insanity has no retrospective action; not even to the time when the bill was filed. (w)

Nothing is more common than for a firm to go on without change of name, or of business, or even new books of account, when a member leaves it, or a new member is added. Yet, strictly speaking, the old partnership was dissolved and a new one formed by any change among its members. Thus a mortgage to a firm to cover advances, was held not applicable to the firm after a new member was added. (ww)

Bankruptcy of the firm, or of one partner, operates an immediate dissolution. (x)1 Insolvency under the statutes would have the same effect; (y) but not the mere insolvency which is only an inability to pay debts, until a refusal to pay; (z) and probably

(v) Story on Part. § 295; Jones v. Nov, 2 Myl. & K. 125. In Isler v. Baker, 6 Humph. 85, it was held, that an inquisition of lunacy, found against a member of a partnership, ipso facto, dissolves the partnership. See also Griswold v. Waddington, 15 Johns. 57; Davis v. Lane, 10 N. H. 161, where Parker, C. J., is reported to have said: "It has been held, in England, that the insanity of one partner does not operate as a dissolution of the partnership, but that object must be attained through a court of equity. Saver v. Bennet, cited 2 Ves. & B. 303. Gow on Part. 272. But the soundness of the principle may perhaps be doubted. Waters v. Taylor, 2 Ves. & B. 303; Griswold v. Waddington, 15 Johns. 57, 82, cited supra."

(w) Besch v. Prolich, 1 Phil. Ch. 172; Helmore v. Smith, 35 Ch. D. 436.

(ww) Abat v. Penny, 19 La. An. 289.

(x) Gates v. Beecher, 60 N. Y. 518; Allen v. Woonsocket Co. 11 R. I. 288; Wilkins v. Davis, 2 Lowell, 511; In re Leland, 5 Benedict, 168; Fox v. Hanbury, Cowp. 448. Lord Mansfield: "An act of bankruptcy by one partner is to many purposes a dissolution of the partnership, by virtue of the relation in the statutes, which avoid all the acts of a bankrupt from the day of his bankruptcy; and from the necessity of the thing, all his property being vested in the assignees, who cannot carry on a trade." See Wilson v. Greenwood, 1 Swanst. 482; Ex parte Smith, 5 Ves. 295; Ex parte Williams, 11 Ves. 5; Crawshay v. Collins, 15 Ves. 218; Dutton v. Morrison, 17 Ves. 193; Griswold v. Waddington, 15 Johns. 82; s. c. 16 Johns. 491; Marquand v. N. Y. Manuf. Co. 17 id. 535; Arnold v. Brown, 24 Pick. 89; At wood v. Gillett, 2 Doug. (Mich.) 206; Coll. on Part. B. 1, ch. 2, § 3; Story on Part. § 313. But " an act of bankruptcy, however, does not dissolve the partnership instanter. It must be followed by a fiat and adjudication. ' The adjudication that he is a bankrupt,' said Lord Loughborough, ' is what severs the partnership.'" Coll. on Part. § 111; Ex parte Smith, 5 Ves. 295; Story on Part. § 314. The English law gives effect to the dissolution from the declaration of bankruptcy under a commission; but this relates back to the act of bankruptcy, and vests the property in the assignees from that period by operation of law. Fox v. Hanbury, supra; Ex parte Smith, 5 Ves. 296; Barker v. Goodair, 11 Ves. 83; Thomason v. Frere, 10 East, 418; 3 Kent, Com. 59.

(y) Williamson v. Wilson, 1 Bland, 418; Gowan v. Jeffries, 2 Ashm. 305, and cases cited supra.

(z) The insolvency of a partnership does not per se dissolve it. Arnold v. Brown, 24 Pick. 93. Morton, J.: " It is not until interference with the firm by attachment or other legal process, by a creditor of the firm, or of an indebted

1 So an assignment by an insolvent firm in trust for creditors works a dissolution if no provision is made for a continuance. McKelvy's Appeal, 72 Penn. St. 409. - K.

' partner. In the last case, it would seem to operate as a transfer of the partner's interest. And bankruptcy destroys the right of a partner to bind the firm by his acknowledgment of debt. (a) But either of the solvent and competent partners may collect, adjust, and receipt for partnership accounts. (J)

After a dissolution from any cause, we hold that no partner can bind his former partners by any new contract, not even if it relates to a previous transaction; thus it is held that he cannot make a promissory note binding the firm for a partnership debt contracted before the dissolution, (bb)1 nor renew a note given before the dissolution. (bc) 2 But the authorities are not in agreement on this question. (bd)

Whether a partnership is absolutely dissolved or only suspended, where the partners are domiciled in different countries, by the breaking out of a war between the countries, may not be positively settled, but the weight of authority is in favor of the dissolution. (c)3 further contended for the plaintiffs that the partnership was dissolved. There is no pretence that the partners intended to dissolve the partnership. If it was done at all by them it was the effect of their acts against their intentions. The insolvency of one or both the partners, we think, would not produce this effect. The insolvency of one might furnish to the other sufficient ground for declaring a dissolution. But, in this State the inability to pay the company or the private debts of the partners would not, per se, operate as a dissolution. In England, bankruptcy, and in some of our States where insolvent laws exist, legal insolvency may produce a dissolution. Wherever the one or the other operates to vest the bankrupt's or insolvent's property in assignees, or other ministers of the law, it would produce that effect."