The Australian Law Times Volume 27-28

The Australian Law Times Volume 27-28

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...pp. 219, 226; In re Equitable Insurance Association of New Zealand. Bailie's Case, 11 N.Z. L.R., 454-; Know/es v. Scott (1891), 1 Ch., 717, -Eu: parlc Canwell, 4 De G.J. & S., 539; In re National Savings Bank Association, L.1t., 1 Ch., D47; Buck '0. Robson, L.1t., 10 E'q., 629; Christie o. Taunton, Delmard, Lane J: Co. (1893), 2 Ch., 175, at p. 184; In re China Steamship and Labuan Coal Co., L.R., 7 Eq., 240. Cur. adv. cult. HOOD, J., read the following judgment: -(After dealing at length with the evidence as to the agreement between Brett as administrator of Mrs Harding and the plaintiff bank, and finding that it was substantially as set out in the defences, and that the release given by Brett to the Company was not to be used by it unless the liability on the 3000 shares had been removed in some way, continued)--lt has been argued that such a release of liability set up by the defendant is bad, as being an improper calling up of capital; but this does not seem to me to be correct. It was contended that such an agreement as the defendant alleges is beyond the power of the Company. The authorities cited, in my opinion, dispose of this contention. It seems to me quite within the powers of the directors of a company to compromise with a creditor who is also a shareholder, upon the terms of releasing him from all future calls in consideration of Ch. 1)., 159, and I see nothing to the contrary in the decision in Kent's Case, 39 Ch. D., 259. Considerable argument was addressed to the Court as to the form, signature, and acceptance of the transfers and as to the elfect of section 168 of the Companies Acts 1896 and the power of the defendant Grice to transfer. All these contentions disappear in my opinion because the Company got...
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Product details

  • Paperback | 554 pages
  • 189 x 246 x 28mm | 975g
  • United States
  • English
  • black & white illustrations
  • 1236813650
  • 9781236813657