1. THE facts of the may be briefly stated, in order to arrive at a decision on this knotty point. It has been alleged that the plaintiff No. 1 company and the defendant No. 2 company used to run a joint ferry service to and from Ahiritola Sadar Ghat to bandhaghat on the footing of a joint licence from 21-5-1936, the period of the licence being ten years. That period was over, but both the companies jointly ran that ferry service. On the 12th July, 1966, a fresh written agreement was arrived at between them in respect of the said joint ferry service. On 18-11-75, the defendant No. 1 company terminated such agreement. Soon after that, namely, on the 24th November, 1975, the other company, namely, the plaintiff No. 1 company instituted Title suit No. 2026 of 1975 for a declaration that the said agreement of the 12th July 1966 was still subsisting and for permanent injunction. Ultimately, on the 15th July, 1976, the suit was withdrawn but no liberty to institute a fresh suit was given. Then the plaintiff No. 1 company instituted the present Title suit for a declaration, for framing a scheme for accounts and other reliefs.

2. THE defendant No. 1 company appeared and put in an a