CHAP. XIII.

CONTRACTS OF LABOUR.

PARTNERSHIP.

I

KNOW nothing upon the fubject of

part

nership that requires explanation, but in what manner the profits are to be divided, where one partner contributes money, and the other labour; which is a common case.

Rule. From the stock of the partnership deduct the fum advanced, and divide the remainder between the monied partner and the labouring partner, in the proportion of the intereft of the money to the wages of the labour, allowing fuch a rate of intereft as money might be bor rowed for upon the fame fecurity, and fuch wages as a journeyman would require for the fame labour and trust.

Example. A advances a thousand pounds, but knows nothing of the bufinefs; B produces

no

no money, but has been brought up to the bufinefs, and undertakes to conduct it. At the end of the year the stock and the effects of the partnership amount to twelve hundred pounds; confequently there are two hundred pounds to be divided. Now nobody would lend money upon the event of the bufinefs fucceeding, which is A's fecurity, under fix per cent.-therefore A must be allowed fixty pounds for the intereft of his money. B, before he engaged in the partnership, earned thirty pounds a year in the fame employment; his labour, therefore, ought to be valued at thirty pounds; and the two hundred pounds must be divided between the partners, in the proportion of fixty to thirty; that is, A must receive one hundred and thirty-three pounds fix fhillings and eight-pence, and B fixtyfix pounds thirteen fhillings and four-pence.

If there be nothing gaind, A lofes his intereft, and B his labour, which is right. If the original stock be diminished, by this rule B loses only his labour as before; whereas A lofes his interest, and part of the principal: for which eventual disadvantage A is compensated, by having the intereft of his money computed at fix per cent. in the divifion of the profits, when there

is

any.

VOL. I.

N

It

It is true, that the division of the profit is feldom forgotten in the constitution of the partner. ship, and is therefore commonly fettled by exprefs agreements: but these agreements, to be equitable, should pursue the principle of the rule here laid down.

All the partners are bound by what any one of them does in the courfe of the bufinefs; for, quoad hoc, each partner is confidered as an authorized agent for the reft.

CHAP.

CHAP. XIV.

CONTRACTS OF LABOUR.

OFFICES.

IN

N many offices, as schools, fellowships of colleges, profefforships of the universities, and the like, there is a twofold contract, one with the founder, the other with the electors.

The contract with the founder obliges the incumbent of the office to difcharge every duty appointed by the charter, ftatutes, deed of gift, or will of the founder; because the endowment was given, and consequently accepted for that purpofe, and upon thofe conditions.

The contract with the electors extends this obligation to all duties that have been customarily connected with and reckoned a part of the office, though not prescribed by the founder: for the electors expect from the person they chooseall the duties which his predeceffors have difcharged;

N 2

charged; and as the perfon elected cannot be ignorant of their expectation, if he mean to refuse this condition, he ought to apprise them of his objection.

And here let it be obferved that the electors can excufe the confcience of the perfon elected from this laft clafs of duties only; because this class results from a contract, to which the electors and the person elected are the only parties. The other clafs of duties refults from a different contract.

It is a question of fome magnitude and difficulty, what offices may be confcientiously fupplied by a deputy.

We will state the feveral objections to the fubftitution of a deputy; and then it will be underftood that a deputy may be allowed in all cafes, to which these objections do not apply.

An office may not be discharged by deputy,

1. Where a particular confidence is repofed in the judgment and conduct of the perfon appointed to it; as the office of a fteward, guardian, judge, commander in chief by land or sea.

2. Where the custom hinders; as in the cafe of fchool-mafters, tutors, and of commiffions in the army or navy.