The Law Reports Volume 5 ; Cases determined by the Chancery Division of the High Court of Justice and by the Chief Judge in Bankruptcy and by the ... Division and the Chief Judge in lunacy by Great Britain. High Division
The Law Reports Volume 5 ; Cases determined by the Chancery Division of the High Court of Justice and by the Chief Judge in Bankruptcy and by the ... Division and the Chief Judge in lunacy by Great Britain. High Division PDF, ePub eBook D0wnl0ad
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. 1877 Excerpt: ... that a special resolution had the effect of varying the articles and enabling the directors to accept surrenders of shares. And again, in Thomas' Case (3), the directors were held not to have acted ultra vires in relieving the secretary from the shares standing in his name, upon his retiring from his office. The same principle was acted upon in Wright's Case (4), where it was held that the cancellation of shares by directors where there were valid grounds for claiming cancellation was effectual; and Mackley's Case (5) is quite as strongly in our favour, for there the memorandum of association was subscribed by a shareholder; but as he was never treated as such, and his name never appeared on the register of members, he was declared not to be liable as a contributory. J. Pearson, in reply:--In this case there never was a meeting of shareholders, and therefore no resolution could be passed under the 51st section of the Act of 1862. There was nothing more than a meeting at which four members were present, and one of those--Mr. Jacob--was in the chair, and is now seeking to escape his liability. (1) Law Rep. 5 H. L. 606. (3) Law Rep. 13 Eq. 437. (2) Ibid. 9 Cb. 54. (4) Ibid. 7 Ch. 65. (5) 1 Ch. D. 247. Malins, V.C.:--v.-c. M. This is a company which was formed by memorandum and J articles of association dated the 30th of March, 1875, and regis-J» «..-., LONDON AXD tered under the Joint Stock Companies Act on the 7th of April Provincial in the same year. The memorandum of association, as required fcoAlLATBD by law, was signed by seven persons, three of whom are seeking Company. to have their names taken off the list of contributories, two of Judgment. them for only five, one of them for twenty shares. The registration of the company having occurred on...From reader reviews:
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