CORAM
COKER JUSTICE, SUPREME COURT
UDOMA JUSTICE, SUPREME COURT
FATAYI-WILLIAMS JUSTICE, SUPREME COURT
PARTIES
EVARIST UGOJI APPELLANTS
RESPONDENTS
AREA(S) OF LAW
SUMMARY OF FACTS
The Plaintiff (now respondent) on 25th May, 1963, took out a writ of summons against the defendant (now appellant) in which he claimed:-
(i) an account of all monies paid and received on all the books consigned to the defendant by the Oxford University Press from January, 1963, until the day of judgment.
(ii) an order of court for defendant to pay the plaintiff a half share of all profits accruing from the sale of the books
HELD
That no Partnership existed between the parties to the Agreement and the defendant was not liable to account to the Plaintiff
ISSUES
Whether the defendant was liable to account to the plaintiff with respect to the books which he bought from the Press since January, 1963
RATIONES DECIDENDI
HOW PARTNERSHIP AGREEMENT IS INFERRED
It is true that persons who agree to share the profits of a business transaction in which they engage are prima facie partners, although they may stipulate that they will not be liable for losses beyond the sums they agree to subscribe. There is also nothing to prevent one or more partners from agreeing to indemnity the others against loss.-Per Atanda Fatayi-Williams, JSC
CASES CITED
Jefifey v Bamford (1921)2 KB 351
STATUTES REFERRED TO
None.