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THE MASTER 0F THE ROLLS (Lord Denning) LORD JUSTICE WINN and LORD JUSTICE SACHS. ____________________
(Transcript of the Shorthand Notes of The Association of Official Shorthandwriters, Ltd. Room 392, Royal Courts of Justice, and 2, New Square, Lincoln's Inn, London, W.C. 2.)
The Plaintiff Appellant, Mr. Doyle, appeared in person. Mr. DAVID A.L. SMOUT (instructed by Messrs. George and George) appeared on behalf of the Respondent Defendants. ____________________
THE MASTER OF THE ROLLS : Mr. Doyle in 1963 was minded to buy a business. He saw an advertisement in Daltons Weekly. He get particulars. The business was said to belong to A. Olby & Son Ltd., 12 Upper High Street, Epsom,, Surrey, and the turnover �27,000. The price staked for the lease, the business and goodwill was �4,500. The stock was to be taken at valuation. Mr. Doyle made further enquiries about it. On 6th November, 1963, Mr. Leslie Olby, a director of the company, produced accounts to him. They were for the three years ending 31st December, 1962. In a covering letter Mr. Olby said:
Those figures showed that for those three years there had been considerable profits: �1,821 net profits in 1960; �1,749 in 1961; and �l,36l in 1962. Mr. Doyle also saw Mr. Cecil Olby who worked en the premises. Mr. Doyle asked Mr. Cecil Olby what staff were employed. Mr. Cecil Olby said:
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Common Room
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