LAWTON V. PARKER 40/1930

LAWTON V. PARKER 40/1930

Goodwill should be included in the capital of the partnership but the value must be justified by evidence; the trial judge's valuation was unsupportable and costs should be treated according to ordinary practice in partnership cases.

Parties
Appellant: Lawton; Respondent: Parker
Jurisdiction
Australia
Judgment Date
03 October 1930
Procedural Posture
Civil / Appeal
Outcome
Appeal allowed with costs; appeal against counterclaim dismissed.
Legal Topics
Goodwill, Capital Account, Valuation, Costs
Partnership Goodwill Capital Account Valuation Costs

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 1 Party arguments 1 Amounts and remedies 2
Sign in to unlock

Parties

Lawton

Appellant

Parker

Respondent

Procedural Posture

Civil / Appeal

Legal Issues

  1. 1 Whether goodwill should be included in the capital account of the partnership and at what value
  2. 2 Appropriate order for costs in partnership proceedings

Ratio Decidendi

Goodwill should be included in the capital of the partnership but the value must be justified by evidence; the trial judge's valuation was unsupportable and costs should be treated according to ordinary practice in partnership cases.

Court Disposition

Appeal allowed with costs; appeal against counterclaim dismissed.

Orders

  • Order of Wagsley J. set aside.
  • No order as to costs of trial.