In re Fulton
United States Bankruptcy Court for the Middle District of Tennessee
43 B.R. 273 (1984)
Relevant factsFree
Carroll (plaintiff) bought a trailer for the C & F trucking partnership he ran with Fulton (debtor), with the invoice and certificate of title both listing the partnership, C & F, as purchaser and owner; when Fulton later filed for Chapter 7 bankruptcy and listed the trailer as an estate asset, Carroll argued the trailer was actually his own property since he personally supplied the purchase funds, meaning it should be excluded from Fulton's bankruptcy estate.
IssueFree
Whether, upon dissolution of a partnership, partnership property must be used to pay the liabilities of the partnership under the priorities established in the Uniform Partnership Act.