Seiwa Australia Pty Ltd v Seeto Financial Services Pty Ltd [2008] NSWSC 1260

The partnership did not enter into a contract with the plaintiffs, the alleged scheme was extraordinary and outside the usual scope of partnership business, and neither breach of contract nor breach of trust occurred; Mr Seeto's actions did not bind the partnership or partners. No ostensible authority or representation was established. Limitation arguments raised but the main claims failed on substance.

Jurisdiction: Australia
Judgment Date: 27 November 2008
Procedural Posture: Equity / Principal Judgment
Outcome: Proceedings dismissed
Legal Topics: ['partner Liability' 'breach of Trust' 'ostensible Authority' 'breach of Contract' 'misapplication of Funds' 'limitation of Actions']

['partnership Law' 'trusts Law' 'contract Law'] ['partner Liability' 'breach of Trust' 'ostensible Authority' 'breach of Contract' 'misapplication of Funds' 'limitation of Actions']

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 2 Party arguments 2 Amounts and remedies 1

Procedural Posture

Equity / Principal Judgment

Legal Issues

1 ['Whether partners are liable for actions of a co-partner promoting investment schemes without their knowledge' 'Whether the partnership was dissolved prior to the alleged acts' 'Whether losses are recoverable from innocent partners' 'Whether breach of contract or breach of trust occurred']

Ratio Decidendi

Court Disposition

Proceedings dismissed

Orders

['Order the plaintiffs to pay the costs of the fourth defendant and the fifth defendant.']