BAYLDON AND ANOTHER V. STAFFORD

079/85

'W. M. Houston, Govt. Print, Melb.

ORIGINAL

IN THE HIGH COURT OF AUSTRALIA

STAFFORD

REASONS FOR JUDGMENT

— mm

!

Qral Judgment delivered at....... SY¥ANey..

on... Wednesday, 11th. November..1959

BAYLDON_AND_ ANOTHER

Ve

STAFFORD

ORDER

Appeal dismissed with costs.

MENT ORAL,

BAYLDON AND ANOTHER

STAFFORD

JUDGMENT OF THE COURT DELIVERED BY DIXON C.J.

CORAM: DIXON C.J. NcTIERNAN J. FULLAGAR J. TAYLOR J. MENZIES J.

BAYLDON _AND_ ANOTHER

ve

STAFFORD

This is an appeal by the defendants in the suit from a decree for specific performance of an agreement of an unusual description, relating to the departure, if I may use that loose expression, of one of three men who conducted a joint enterprise from the association which they had maintained and which had taken the form of the incorporation of two companies. The agreement was in substance for the sale of the plaintiff's share in the business, but was expressed as a sale of his share or interest in the companies.

The decree under appeal declared that the agreement referred to in the statement of claim ought to be specifically performed and carried into execution. That is the main portion of the decree, which then proceeds to give only one or two special directions.

The agreement alleged in the statement of claim was that the plaintiff should sell his share in each of the two companies to which I have referred to the defendants for the sum of £7500, payable as to £1000 forthwith and as to the balance by fifty-two weekly payments of £125. It was a further term that the plaintiff should be paid by the defendants, until the sum of £7500 was paid in full, an additional weekly sum of £25, treated as salary and therefore subject to a deduction for tax which reduced it by £3. The result, as will be seen, is that the plaintiff was to be paid £147 a week for twelve months with £1000 down. :