Passport

• Pages: 755-755

755 Terms of partnership agreement Para. 1800

of the interests of the parties as set out in the Certificate of Title, Exhibit 1, and the

passage, paragraph 1028 at page 531 of Halsbury’s Laws of England, 3rd edition

Volume 28. I do not think there is much merit in this submission having regard to the

evidence of the plaintiff to the effect that pursuant to an arrangement to buy land,

build on it and let the building for profit, the parties subscribed money and bought land

on which they built a house which they let.

It is clear from this evidence that the parties were partners in the venture and

that the lease and the building were procured out of partnership funds. The law on

this point as set out in Halsbury’s Laws of England 3rd edition Volume 28 at page

530 at paragraph 1027 is that, unless the contrary intention appears, property bought

with money belonging to a partnership is deemed to have been bought on account of

the partnership. The description in the certificate of title has little bearing on the

question, for even if the property was therein described as belonging to one of the

partners alone, yet if the property was bought by the firm it would be held to be

partnership property in the absence of evidence to the contrary: Forster v. Hale, 5

Ves. 308.” – Per Onyeama, J. in Hanien v. Nasr Suit No. SC LD/323/1961; (1962)

2 All N.L.R. 43 at 45

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