Partowners

PARTOWNERS. Persons who hold real or personal property by the same title, either as tenants in common, joint tenants, or coparceners. They are sometimes called quasi partners and differ from partners in this, that they are either joint owners, or tenants in common, each having an independent, although an undivided interest in the property; neither can transfer or dispose of the whole property, nor act for the others in relation to it, but merely for his own share, and to the extent of his own several right and interest.
     2. In joint tenancy of goods or chattels, it is true, the joint tenants are seized per my et per tout; but still each one has an independent, and to a certain extent a distinct right during his lifetime, which he can dispose of and sever the tenancy.
     3. Tenants in common hold undivided portions of the property by several titles, or in several rights, although by one title. Their possession, however, they hold in common and undivided. Whereas, in partnerships, the partners are joint owners of the property, and each has a right to sell or dispose of the whole, unless otherwise provided for in the articles of partnership. Colly. Partn. 86; Wats. Partn. 66; Story, Partn. Sec. 91.
     4. At common law, each of the owners of a chattel has an equal title and right to possess and use it; and in the case of common chattels the law has generally left this right to the free discretion of the several owners but in regard to ships, the common law has adopted and followed' out the doctrine of the courts of admiralty. It authorizes the majority in value and interest to employ the ship upon any probable design. This is done, not without guarding the rights, of the minority. When the majority desire to employ a ship upon any particular voyage or adventure, they have a right to do so, upon giving security by stipulation to the minority, if required, to bring back and restore the ship to them, or in case of her loss, to pay them the value of their shares. Abbott, Ship. 70; 3 Kent Com. 151, 4th ed.; 2 Bro. Civ. Law, 131; Molloy, B. 2, c. 1, Sec. 3; 2 Pet. Adm. R. 288; Story, Partn. 428 11 Pet. R. 175. When the majority do not choose to employ the ship, the minority have the same right, upon giving similar security. 11 Pet. R. 175; 1 Hagg. Adm. R. 306; Jacobi: Sea Laws, 442.
     5. When part owners are equally divided as to the employment, upon any particular voyage, the courts of admiralty have manifested a disposition to support the right of the court to order a sale of the ship. Story Partn. Sec. 439; Bee's Adm. R. 2; Gilpin, R. 10; 18 Am. Jur. 486.

References in periodicals archive ?
Aidan O'Brien's colt has not managed to get his head in front since his glory day at Epsom and had his one and only start this year in the colours of partowners Al Shaqab Racing when 13th in the Dubai World Cup He was a late absentee from last month's Coronation Cup.
It was a clear and pointed reference to the desperate financial situation the GRA found itself in after it's partowners bought at exactly the wrong time and for too high a price.
The framed, hand-written deeds have now been found in an office at the Bedworthbased charity People in Action charity, who are partowners of the property, along with Warwickshire Primary Care Trust.
Across various types of ownership status, the difference between PCPs who were fullowners and those who were partowners intensified when economic returns were measured in wages.
Now carrying the colours of partowners Jim and Fitri Hay, the son of Galileo is drawn on the outside in a field of seven for the Grade 1 Man o' War, in which he is attempting to become his trainer's first North American winner since Joshua Tree won last year's Canadian International.
The dog's three partowners must have thought Christmas had come early when Coral quoted them 500-1 about their hurdler winning the jewel in the jumping crown, the Grand National.
Only two of the eight partowners in Trusted Venture made the trip to welcome home their surprise first winner, of the 1m nursery.
3m the remaining shares in the Maryland Jockey Club held by Joe and Karin De Francis, previous partowners of Pimlico and Laurel.
THE HORSERACING Regulatory Authority is to tighten the rules over licensed individuals laying their horses on betting exchanges after partowners Anthony Ramsden and Robert Owen were fined rather than disqualified for laying their horse Mickmacmagoole, writes Bill Barber.
However, Bubbly Jason's partowners, the Champagne Club, should be on the mark at 8.
Mondul, who combined hurdling and chasing to good effect for Milton Harris last season, will return to the Oxfordshire trainer after some of the five-year-old's existing partowners bought out the others in the partnership at 36,000gns.
It seems the editor of the Prurock column, Dominic Prince, has an interest in one of the entrants, Market Trustee, and, along with the dog's partowners, is heading off to Altcar next month.