1927 (11) TMI 6

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..... Co. In the year 1908 he acquired as his separate property the house in which the business was carried on. In the year 1913 he executed a deed of gift of all that he possessed in favour of his six sons. Later on in the same year he made a will in which he declared that he had no property or estate of any description, and appointed his eldest son, Mahoinedali, to be the guardian of his minor children. he died on October 6, 1916, leaving living all his six sons, of whom two, the first and second appellants, were then minors under the acre of eighteen, and also leaving surviving him his widow, the third appellant. The business South was, in fact, carried on under the management of three of the adult sons. On September 3, 19.1.9, an equitable .....

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..... the business assets of Bhaloo Lakha were, or on his death became, vested in his six sons, subject to the widow's right of maintenance; and the real question is whether after his death there was a valid arrangement under which the business was carried on for the benefit of the six sons, but under the management of the three managing partners. On that point it is of vital importance that, immediately after the death of Bhaloo Lakha, a request was signed to the Bank to open an account in the name of the firm, and that request contained a statement by Mahomedali, the guardian of the two minors, that all the six sons were partners in the business. If the guardian had power to bind the minor sons, then that request is decisive; and it appears .....

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..... question of fact has been decided, and as far as can be seen, correctly decided, in favour of the respondents. 6. A third question has been raised, namely, whether one of the partners (Hussein) had power to mortgage the property to the Bank so as to bind the firm. That question is really not material to the appellants; for even if the mortgage was ineffective, the house, being part of the business assets, would be available for the general body of creditors, and no share in it would come to the appellants. But it appears to their Lordships that upon the terms of Article 251 of the Decree the managing partner had power to execute the mortgage. 7. The result is that the appeal fails as regards the two sons who are appellants. As to the .....

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