Lakha and Others Standard Bank of South Africa Ltd (Appeal No. 38 of 1927)
Lakha and Others Standard Bank of South Africa Ltd (Appeal No. 38 of 1927) [1927] EACA 1 (1 January 1927)
The Privy Council held that the minor sons were admitted to the partnership by their guardian and thus their shares in the partnership property were liable for the firm's debts, even though they were not personally liable until attaining majority. The house in question was found to be a partnership asset, and the managing partner had authority under section 251 of the Zanzibar Contract Decree to execute the mortgage binding the firm. The purported repudiation by the minors upon attaining majority was insufficient to relieve them of liability, as it did not constitute a proper public notice of…
Source excerpt
- Partnership Liability
- Minor Partners
- Mortgage Of Partnership Property
- Customary Law On Maintenance
- Succession And Inheritance
- Powers Of Guardian