WEDD V. PARKER AND OTHERS

The option to purchase a defaulting partner's share under clause 20 could not be exercised by Norman Alfred Parker alone; it had to be exercised by all the other partners jointly when giving notice to determine the partnership. The purported unilateral exercise by Parker was ineffectual.

Parties: Appellant: WEDD; Respondents: PARKER AND OTHERS
Jurisdiction: Australia
Judgment Date: 16 October 1958
Procedural Posture: Appeal / Judgment on Appeal From Supreme Court of Western Australia
Outcome: Appeal allowed with costs.
Legal Topics: Dissolution of Partnership, Exercise of Purchase Option, Costs

Partnership Law Dissolution of Partnership Exercise of Purchase Option 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 2 Party arguments 2 Amounts and remedies 1

Parties

WEDD

Appellant

PARKER AND OTHERS

Respondents

Procedural Posture

Appeal / Judgment on Appeal From Supreme Court of Western Australia

Legal Issues

1 Whether the option to purchase the defendant's share in the partnership under clause 20 of the agreement was validly exercised
2 Proper construction of clauses 20 and 21 of the partnership agreement as to purchase of a defaulting partner's share
3 Entitlement to costs

Ratio Decidendi

Court Disposition

Appeal allowed with costs.

Orders

Judgment of the Supreme Court of Western Australia varied to declare that the option to purchase the defendant's share was not validly exercised.
Liberty to all parties to apply in the Supreme Court for orders for due winding-up of the partnership.