Dissolution of partnership between Thomas Morris of Coventry, silkman and Stephen...

Relating to partnership between Charles Schuman of Coventry, silkman deceased [see PA 171/3/1], James Grant and Stephen Corbett. Thomas Morris was bequeathed the capital, stock and property of Charles Schuman under the terms of his last will. The parties agree to continue the partnership until 1 August 1786 when it will be dissolved subject to the following provisoes (1) Thomas Morris is to settle the debts of the partnership and premises and is to the best of his ability to collect debts owed to the partnership. He and his riders will not claim expenses for collecting debts. Extraordinary expenses and monies embezzled by riders to be paid out of the funds of the joint partnership (2) Stephen Corbett makes the same covenants as above in respect of the disposal of debts. (3) No recovery of debt is to take place without the consent of the two parties (4) Other matters to be settled by the 1st of August 1786 by all parties. (5) Thomas Morris agrees to pay James Grant £400 of his share within a month of the dissolution of the partnership and £600 during the six months thereafter, Grant paying Morris any excess. (6) Morris covenants to pay Corbett on the same terms. (7) The parties are to meet to settle accounts before the 31st May 1787 (8) Arbitrators are to be appointed to settle disputes.

Previous reference. Deeds Business. PA 171/5/5.