MCGRATH V. PERMANENT TRUSTEE COMPANY AND ANOTHER

MCGRATH V. PERMANENT TRUSTEE COMPANY AND ANOTHER

On the true construction of the deed, the lands described in the schedule were partnership assets at the time of the deceased's death, and the partners had equal interests in them. The relevant declaration should state this, correcting the initial order.

Parties
Appellant: Permanent Trustee Company; Appellant: Another
Jurisdiction
Australia
Judgment Date
11 December 1963
Procedural Posture
Appeal / Judgment
Outcome
Appeal allowed in part; decretal order varied and affirmed as varied; costs of all parties to be paid out of the estate.
Legal Topics
Construction of Deed, Partnership Assets, Interests of Partners
Equity Partnership Construction of Deed Partnership Assets Interests of Partners

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Parties

Permanent Trustee Company

Appellant

Another

Appellant

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether the personalty and lands referred to in the deed were partnership assets upon the death of the deceased
  2. 2 The construction and effect of the deed in relation to described property and partners' interests

Ratio Decidendi

On the true construction of the deed, the lands described in the schedule were partnership assets at the time of the deceased's death, and the partners had equal interests in them. The relevant declaration should state this, correcting the initial order.

Court Disposition

Appeal allowed in part; decretal order varied and affirmed as varied; costs of all parties to be paid out of the estate.

Orders

  • The decretal order made by the Chief Judge in Equity is to be varied to declare that the lands referred to in the schedule to the deed were, at the death of the deceased, assets of the partnership in which the partners were interested in equal shares.
  • Subject to that variation, the decretal order is affirmed.