Each partner has also a specific lien on the present and future property of the partner 3hip, the stock brought in, and every thing coming in lien, during the continuance and after the determination of the partnership, not only for the payment of debts due to third persons, but also for the amount of his own share of the partnership stock, and for all moneys advanced by him beyond that amount for the use of the partnership, as also for moneys abstracted by his copartners beyond the amount of his share. Story, Partn. ee 97, 326, 441 ; Collyer, Partn. e 125; 3 Kent, Comm. 65, 66 ; 8 Dana, 278 ; 10 Gill & J. Md. 253 ; 20 Vt. 479 ; 9 Cush. Mass. 558; 1 Lindley, Partn. 576 ; 1 Ves. Sen. 239 ; 9 Beav. Rolls, 239 ; 20 id. 20; 25 id. 280 ; 3 Mont. D. & D.198. This lien attaches on real estate held by the partnership for partnership purposes, as well as upon the personal estate, 5 Mete. Mass. 562, 577-579, 585, and is coextensive with the transactions on joint account. 1 Dan. Ky. 58 ; 11 Ala. N. s. 412.
21. lf a partner has taken the whole or any part of his share out of the partnership stock, the stock so taken, if identified, is applicable to the payment of what, upon an account taken, shall be found to be due from him to the partnership, before it can be applied to the payment of his separate creditors. 3 P. Will. 180; Collyer, Partn. 126; Story, Partn. 97. The same rule will apply to any other property into which the partnership property may have been con verted, so far and so long as its original cha racter and identity can -be distinctly traced, 4 Harr. & M'H. Md. 167 ; Story, Partn. 4 97 ; and hence no separate creditor of any partner can, merely as such creditor, take any portion of the partnership effects, hy process or other wise, except for so much as belongs to that partner, as his share or balance, after all prior claims thereon are deducted and satisfied. Story, Partn. e 97 ; 9 Me. 28 ; Collyer, Partn. e 822 and notes ; 5 Johns. Ch. N. Y. 417.
Upon the decease of one of several partners, his personal representatives become, both at law and in equity, tenants in common with the surviving partners. Collyer, Partn. e 346 • 3 Kent, Comm. 37 ; Story, Partn. 346 ; '35 N. H. 403. Still, as the surviVing partner stands chargeable with the whole of the partnership debts, he takes the partner ship property by survivorship, for all purposes of holding and administering the estate, until the effects are reduced to money and the debts paid. 3 Kent, Comm. 37 ; Story, Partn. e 346 • Collyer, Partn. 129 ; 5 Mete. Mass. 576, 5'85; 10 Gill & J. Md. 404; 30 Me. 386; 6 Cow. N. Y. 441 ; 3 Paige, Ch. N. Y. 527 ; 13 Miss. 44; 18 Conn. 294. See 1 'Exch. 164 ; Year B. 38 Edw. III. f. 7, t. .Accompt. The debts of the partnership must be collected in the name of the surviving partner. 6 Cow.
N. Y. 441 ; Story, Partn. e 346 ; 3 Kent, Comm. 37 ; 4 Mete. Mass. 540. In Louisiana the surviving partner does not possess the right until he 18 authorized by the court of probate to sue alone for or receive partner ship debts. 6 La. 194 ; 16 id. 30.
22. The partnership property consists of the original stock and the additions made to it in the course of trade. All real estate pur chased for the partnership, paid for out of the funds thereof, and devoted to partnership uses and trusts, whether the legal title is in one or all of the partners, is treated in equity in the same manner as other partnership property until the partnership accoult le settled and the _partnership debts are paid. Bisset, Partn. 4t--56, 60 ; Story, Partn. 98 ; 5 Ves. Ch. 189 ; 3 Swanst. Ch. 489 ; Collyer, Partn. I 135 ; 10 Cush. Mass. 458 ; 4 Mete. Mass. 527 ; 5 id. 562 ; 3 Kent, Comm. 37 ; 27 N. H. 37. Leases of real estate taken by one partner for partnership purposes, mines, and trade-marks are held to be partnership property. 17 Ves. Ch. 298 • Bisset, Partn. 60, 61 ; 1 Taunt. 250 ; 10 dui% 106 ; 5 Ves. Ch. 308 ; Story, Partn. e 98.
A peculiar species of interest, called the good will of the trade or business, is often treated as in some sort a part of the partner ship property. But Chancellor Kent says " the good will of a trade is not partnership stock. 3 Kent, Comm. 64. Still, the good will of a business is often recognized as a valuable interest. 3 Mer. Ch. 452, 455 1 Hoff. Ch. N. Y. 68 ; 5 Ves. Ch. 539. It is considered to enhance the value of the effects on which it is attendant, and will, therefore.
the included in a decree for the sale of those Affects. Collyer, Partn. a 161, 322; Story, Partn. a 99, 100 ; Bisset, Partn. 62. The .good will of a professiooal partnership be longs, in the absence of express stipulations, exclusively to the survivors. Bisset, Partn. ,64; 3 Mtidd. Ch. 64 ; Collyer, Partn. 163.
23. Distribution of interest. As between the partners, they may by agreement stipu late for equal or unequal shares in the profit and loss of the partnership, Story, Partn. 23 ; but in tb e absence of any express agreement or Eitipulation between them, and of all controll ing evidence and circumstances, thepresump tion has been held to he that they are Interested in equal sharee. Story, Partn. 24 ; Bisset, 'Perth. 56, 57 ; Collyer, Partn. 167 ; 1 Mood. St R. 527 ; 6 Wend. N. Y. 263 ; 9 Ala. N. a. 372 ; 13 id. 752 ; 2 Murph. No. C. 70 ; 5 Dan. Ky. 211 ; 8 id 214; 1 Ired. Eq. No. C. 332 ; 1 J. J. Marsh. Ky. 506 ; 1 Lindley, Partn. 573 ; 20 Beav. Rolls, 98 ; 7 De Gex, M. & G. 239 ; 17 Yes. Ch. 495 7 Hare, 159 ; 1 Mood.