An agreement to the insertion of book values in a balance sheet prepared during the continuance of the partnership did not bind the deceased partner if that balance sheet fell to be used for the purpose of the ascertainment his share in the partnership at his death.
Judges:
Lord Mayfield
Citations:
1988 SLT 93
Jurisdiction:
Scotland
Cited by:
Unpersuasive – In Re White (Dennis) Deceased; White v Minnis and Another CA 25-May-2000
A family partnership had carried freehold property at its historic cost value in the books, rather than at a market value. After the death of one partner the share came to be valued.
Held: Being a family partnership there was presumption that . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 07 May 2022; Ref: scu.238868
