The House of Lords Session 1897
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. 1897 edition. Excerpt: ... occur?--No; I say it occurs very seldom. Lord Davey. 845. The experience of the people in the courts is different?--The experience of people in the courts is this: they ouly see what Lord Farrer, in a question to Mr. Smith, called the morbid side of things; they see a very very few instances of that kind. They do, I admit, see a certain number, but then, if you take the number which they see where there is fraud, and where there is injustice done, and compare those instances with the enormous number of instances where everything is done honestly and straightforwardly, you surely would not alter an Act of Parliament, and impeach commercial transactions for that. 846. You say where things are honestly and properly done: this is not a question of being honestly and properly done, because in the cases of which Mr. 'lustice Romer is speaking (and I am sure lawyers would confirm his view) it is entirely in accordance with the terms of the contract with the debenture-holders; so that there is no question of honesty, and the cases which come before the courts are exactly those cases where it becomes important. If the company does not become insolvent it does not matter what the charge is, does it, if it pays its way. Is is not just where the charge has to be enforced that the cases come before the court?--Certainly. 847. That is where it becomes a practical question. Then it comes before the court?--It is only a practical question because it is connected with an insolvent company. 848. Wherever then it becomes a practical question, it comes before the court?--Where it becomes a question of realising the security it comes before the court. 12 July 1897. Mr. Boulter. Continued. Lord Davey--continued. 849. Those are the cases which the court...
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