Nougues

Plaintiff filed bis bill seeking an accounting from tbe defendants because of matters bereinafter set forth. Tbe defendant Newlands was alone served with summons, and he appeared and interposed a demurrer to tbe bill: 1. Upon tbe ground that it failed to state a cause of action; and 2. That tbe cause of action stated was barred by tbe statute of hmitations. Tbe trial court held that tbe cause of action was so barred, and rendered judgment accordingly. From that judgment plaintiff appeals. -

Tbe bill is of great length, but tbe facts essential to this consideration may be thus summarized: In January, 1874, plaintiff Nougues, Henry F. Williams, one of tbe defendants, and William C. Balston, by agreement associated themselves together in a joint venture for tbe purpose of purchasing, improving, and selling certain lands in tbe city and county of San Francisco. To this venture Balston was to contribute money to purchase the lands in a sum not exceeding one hundred and seventy-five thousand dollars. Nougues and Williams were to improve these lands by bulkheading them and filling them in, and to contribute for this purpose an equal amount of money. Balston’s interest in tbe venture was…