AYRE V. BLANCHE & ORS. 52/1941

AL J. Green, Gort, Print, Melb.

FRE iy /, 7 (.

IN THE HIGH COURT OF AUSTRALIA *

JUDGMENT 2

_-DELIVERED.AT. SYDNEY THURSDAY

23rd DAY OF APRIL 19420 0

AYRE v. BLANCHE & OTHERS.

Order that the declarations in the @ecretal order of the 17th October 1941 be set aside. In lieu thereof Declare that the partnership be wound up in the following manner :- Its assets (other than the Deficiency Account of the defendant Eva Ayre which is to be regarded as cancelled) be realised and out of the sproceeds the testator's estate first be paid the amount to the credit of his capital account at thedate of his death and the bal- ance distributed as to 2/3rds to his estate and 1/3rd to the said defendant; the plaintiffs to pay and discharge all the partner- ship debts out of his estate. The costs of all parties of this 'appeal, those of the respondent executors and trustees as between solicitor and client, to be paid out of the residuary estate of

the testator.

JUDGMENT.

v.

BLANCHE AND OTHERS.

RICH, J.

t Judgment. t

BLANCHE AND OTHERS.

Rich, J.

I have had the advantage of reading the judgment of my brother

Williams and agree with it.

The appeal should be -allowed.'.

AYRE. Vv BLANCHE & OTHERS

JUDGMENT : STARKE J.

Gordon Russell Ayre was a grazier who owned certain pro- perties known as "Waverley" which included "Conoble" with the stock and plant thereon. About 1924 a property known as "Irish Lords" adjoining"Waverley} with the stock and plant thereon was purchased for his wife Ewa Ayre. Ayre and his wife agreed that he should work "Irish Lords" for her and place the profits agains purchase money. But it was found convenient and more economical to work "Waverley" and "Irish Lords" together. So a Deed of Partnership dated May 1925 was entered into between the husband and wife, which so far as is material provided:-