Reports of Cases in Chancery; Argued and Determined in the Rolls Court During the Time of Lord Langdale Volume 2

Reports of Cases in Chancery; Argued and Determined in the Rolls Court During the Time of Lord Langdale Volume 2

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1839 edition. Excerpt: ... the transaction impeached by the Plaintiff is not illegal appears from the constant usage of the East India Company, and the sanction which that usage derives from a decided case tending strongly to shew that there is no illegality in it. The 9 & 10 W. 3. c. 44. s. 75. enacts that it shall not be lawful for the East India Company to borrow, owe, or give security for any other or greater sum or sums of money than such as shall be really and bona Jide expended and laid out in and for the buying of goods; which sum or sums of money, so to be borrowed for the purpose aforesaid, shall be borrowed only on their common seal, and shall not be made payable or bond fide agreed to be paid at any time less than six months from the time of the borrowing thereof. Now the East India Company is in the constant habit of accepting bills of exchange at less than six months; yet it has never been supposed that by so doing they came within the prohibition of the statute 6 Ann. In Murray v. Tlhe East India Company (a), an action was brought against the East India Company by the administrators of the payee, to recover the amount of four bills of exchange which had been transmitted to England, indorsed by the testator's agent without any special authority, and accepted by the East India Company after the death of the testator, and paid by the company to the holders. Three of the bills were payable at three months' sight. The amount of the four bills exceeded 30,000/. The case was one of great hardship, as the Company was called upon to pay that large (a) 5 B. # Aid. 204. -. A large sum a second time, and every objection that could be raised by the ingenuity of counsel was urged in favour of the Defendants; yet it never occurred to the counsel or to the Court...show more

Product details

  • Paperback | 246 pages
  • 189 x 246 x 13mm | 445g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236627466
  • 9781236627469