Books > Old Books > Poetry Northwest (1959)


Page 38

CHAPTER 5
PROMOTERS

when X. had agreed with Y., acting on behalf of a company to be formed, to sell certain property to the company for cash, and, after the company's incorporation, X. agreed with the company to take part of the purchase-money in debentures instead of cash, it was held that the agreement between the company and X. was a new agreement, and not a ratification of the agreement between X. and Y.(15)
Acting on a contract made before incorporation under the mistaken belief that the contract is binding on the company is not evidence of a new contract.

In re Northumberland Avenue Hotel Co. (1886), 33 Ch. 1). 16. A contract was made between W. and D., as trustee for an intended company, for the assignment of a lease. The company, on its formation, entered on the land the subject of the lease and erected
buildings on it, but did not make any fresh agreement with respect to the lease. Held, the agreement being made before the formation of the company, was not binding on the company, and the acts of the company were not evidence of a fresh agreement between W. and the company.
Even if the company takes the benefit of a contract made before its incorporation, the contract is not binding on the company.

In re English and Colonial Produce Co., Ltd., [1906] 2 Ch. 436. Solicitors, on the instructions of persons who afterwards became directors of the company, prepared the memorandum and articles of association of the company, and paid the registration fees. Held, the company was not liable to pay their costs.
" There is no binding authority for the proposition that a company, because it has taken the benefit of work done under a contract entered into before the formation of the company, can be made liable in equity under that contract."-Per Vaughan Williams, L.J.

Agreements to sell property to a company about to be formed are not now, as a rule, made with a person expressed to be a trustee or agent for the company, because of the liability which the trustee or agent incurs, and the absence of liability incurred by the company on its formation. The usual plan is to draw a draft agreement to which the company is expressed to be a party, and for the company to enter into the agreement after incorporation pursuant to a clause in the articles to that effect. (16)

15 Howard v. Patent Ivory Manufacturing Co. (1888), 38 Ch. D. 156.
16 See Palmer, Company Precedents, Part I (15th ed.), p. 592. Ibid., p. 296, for alternative ways of making a preliminary agreement.

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where is HTML where is HEAD where is TITLE when X. had agreed with Y., acting on behalf of a company to be formed, to sell certain property to what is company for cash, and, after what is company's incorporation, X. agreed with what is company to take part of what is purchase-money in debentures instead of cash, it was held that what is agreement between what is company and X. was a new agreement, and not a ratification of what is agreement between X. and Y.(15) Acting on a contract made before incorporation under what is mistaken belief that what is contract is binding on what is company is not evidence of a new contract. In re Northumberland Avenue Hotel Co. (1886), 33 Ch. 1). 16. A contract was made between W. and D., as trustee for an intended company, for what is assignment of a lease. what is company, on its formation, entered on what is land what is subject of what is lease and erected buildings on it, but did not make any fresh agreement with respect to what is lease. Held, what is agreement being made before what is formation of what is company, was not binding on what is company, and what is acts of what is company were not evidence of a fresh agreement between W. and what is company. Even if what is company takes what is benefit of a contract made before its incorporation, what is contract is not binding on what is company. In re English and Colonial Produce Co., Ltd., [1906] 2 Ch. 436. Solicitors, on what is instructions of persons who afterwards became directors of what is company, prepared what is memorandum and articles of association of what is company, and paid what is registration fees. Held, what is company was not liable to pay their costs. " There is no binding authority for what is proposition that a company, because it has taken what is benefit of work done under a contract entered into before what is formation of what is company, can be made liable in equity under that contract."-Per Vaughan Williams, L.J. Agreements to sell property to a company about to be formed are not now, as a rule, made with a person expressed to be a trustee or agent for what is company, because of what is liability which what is trustee or agent incurs, and what is absence of liability incurred by what is company on its formation. what is usual plan is to draw a draft agreement to which what is company is expressed to be a party, and for what is company to enter into what is agreement after incorporation pursuant to a clause in what is articles to that effect. (16) 15 Howard v. Patent Ivory Manufacturing Co. (1888), 38 Ch. D. 156. 16 See Palmer, Company Precedents, Part I (15th ed.), p. 592. Ibid., p. 296, for alternative ways of making a preliminary agreement. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 38 where is strong CHAPTER 5 PROMOTERS where is p align="justify" when X. had agreed with Y., acting on behalf of a company to be formed, to sell certain property to what is company for cash, and, after what is company's incorporation, X. agreed with what is company to take part of what is purchase-money in debentures instead of cash, it was held that what is agreement between what is company and X. was a new agreement, and not a ratification of what is agreement between X. and Y.(15) Acting on a contract made before incorporation under what is mistaken belief that what is contract is binding on what is company is not evidence of a new contract. In re Northumberland Avenue Hotel Co. (1886), 33 Ch. 1). 16. A contract was made between W. and D., as trustee for an intended company, for what is assignment of a lease. what is company, on its formation, entered on what is land what is subject of what is lease and erected buildings on it, but did not make any fresh agreement with respect to what is lease. Held, what is agreement being made before what is formation of what is company, was not binding on what is company, and what is acts of what is company were not evidence of a fresh agreement between W. and what is company. Even if what is company takes what is benefit of a contract made before its incorporation, what is contract is not binding on what is company. In re English and Colonial Produce Co., Ltd., [1906] 2 Ch. 436. Solicitors, on what is instructions of persons who afterwards became directors of what is company, prepared what is memorandum and articles of association of what is company, and paid what is registration fees. Held, what is company was not liable to pay their costs. " There is no binding authority for what is proposition that a company, because it has taken what is benefit of work done under a contract entered into before what is formation of what is company, can be made liable in equity under that contract."-Per Vaughan Williams, L.J. Agreements to sell property to a company about to be formed are not now, as a rule, made with a person expressed to be a trustee or agent for what is company, because of what is liability which what is trustee or agent incurs, and what is absence of liability incurred by what is company on its formation. what is usual plan is to draw a draft agreement to which what is company is expressed to be a party, and for what is company to enter into what is agreement after incorporation pursuant to a clause in what is articles to that effect. (16) 15 Howard v. Patent Ivory Manufacturing Co. (1888), 38 Ch. D. 156. 16 See Palmer, Company Precedents, Part I (15th ed.), p. 592. Ibid., p. 296, for alternative ways of making a preliminary agreement. where is Server.Execute("_SiteMap.asp") %

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