Reviewed case brief
Baird v Lees
1924 SC 83
The Court held that where the substratum (fundamental purpose or object) for which a company was formed has gone — either because the object has been achieved, has become impossible, or the company is carrying on business wholly different from what was contemplated — it is just and equitable to wind
- Court
- Court of Session (Scotland)
- Year
- 1924
- Subjects
- Company Law
- Reviewed
- 2026-06-30
Rule established
A company may be wound up on the just and equitable ground where its substratum (fundamental object) has failed or become impossible of attainment.
Facts
Issues
Held
Ratio decidendi
How to use it in an exam
Editorial source
1924 SC 83
Educational summary only. Read the reported judgment or an authorised law report before relying on the case professionally.