Jackson v Ogg
| Jurisdiction | England & Wales |
| Judgment Date | 01 August 1859 |
| Date | 01 August 1859 |
| Court | High Court of Chancery |
English Reports Citation: 70 E.R. 476
HIGH COURT OF CHANCERY
S. C. 5 Jur. (N. S.) 976; 7 W. R. 730. Referred to, In re George, 1890, 44 Ch. D. 629.
Statute of Limitations. Entry in Account.
[397] jackson v. ogg. July 25, August 1, 1859. [S. C. 5 Jur. (N. S.) 976 7 W. E. 730. Eeferred to, In re George, 1890, 44 Ch. D. 629.] Statute of Limitations. Entry in Account. Where money was advanced to a firm to be repaid on demand with compound interest: Held, that the Statute of Limitations ran from the date of the advance. Entries made in the books of the firm crediting the person who advanced the money with interest from time to time, on the footing of periodical rests : Held, not to bar the statute. This was a bill filed by creditors of a firm for the purpose of establishing their debt against the estate of a deceased partner. The Plaintiffs, Jane Jackson and Joseph Webb, were the executors of Edwin Jackson, a former partner in the firm of Swain & Webbs, carrying on business at Huddersfield, and also at Sydney, New South Wales. In the year 1844 Joseph Webb, who continued to be a partner in the firm, proposed to Mrs. Jackson to invest any disposable money of her own or belonging to the estate of her brother, Edwin Jackson, by advancing it to the firm, for which she was to receive compound interest at 10 per cent. In 1844 and 1845 she advanced, on these terms, 300 of her own money, and 700 out of her brother's estate. The money was received with the assent of the other partners, Thomas Webb and William Hopkinson ; but a case was set up for the defence that Thomas Webb placed the money, not in the firm of which Hopkinson was a partner, but in another firm connected with the principal firm, of which the Webbs were partners and Hopkinson was not. These two firms had, to a certain extent, books in common, and in those books Mrs. Jackson was credited with her advance; and rests were made, and interest credited to her from time to time, according to the stipulated terms, down to a period less than six years before the filing of the bill. Hopkinson JOHNS. 398. JACKSON V. OGG 477 retired from the partnership on the 31st day of December 1851; and a balance-sheet was afterwards furnished to him, in which the accumulated debt to Mrs. Jackson was entered as a liability of the firm. He died on the 14th of October 1854; and in 1855 the continuing partners compounded with their creditors, and Mrs. Jackson executed the deed, and took a dividend of five...
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