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Do you have any information on this?
Where a person has entered into a partnership as a result of misrepresentations being made about the firm’s activities, position and performance.
The firm then converts into a limited company.
Then our innocent new partner discovers the true position and the fact of the misrepresentation so asks for repudiation and a get-out from the firm with the repayment of any cash paid in upon entry.
But the situation has radically changed and the repayment of the money will adversely affect the claims of a company’s creditors whereas it would have no affect on those creditors if they were creditors of a partnership
I thought this was to do with goods.
I am definitely going to have to have a look at this in more detail.
Restitutio in integrum says that any goods to be returned must be returned in exactly the same condition as when they were delivered. If they have changed in nature sine original delivery then restitutio in integrum is not available
Ok then. I did read a bit about goods having deteriorated or perished because of examination of the buyer.