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Page 51

CHAPTER 6
THE PROSPECTUS

the prospectus gives the dates and parties to material contracts and states where they can be inspected, the omission of the applicant to inspect them does not fix him with notice of their contents. (12)
Again, " it is not necessary to show that the misrepresentation was the sole cause. The question is whether the applicant acted upon the misrepresentation, not whether he acted upon the misrepresentation alone. He may recover although he was induced also by other things, as, for instance, his own mistake." (13)
3. That he acted promptly after discovering the true facts.
The right to rescind must be exercised promptly if the company is a "oing concern, and even a delay of a fortnight has been held to be too long in such a case. (14) When a shareholder was put on enquiry in June, but took no steps to make any investigation until November, it was held that his delay prevented him from rescinding the contract. (15)
The right to rescind will also be lost if:
(1) The company goes into liquidation."(16)
(2) The shareholder does an act which shows that he elects to retain the shares; for example, if he attends meetings,(17) receives dividends, (18) or attempts to sell the shares. (19)
The omission on the part of the company to set out the particulars required to be set out by s. 38 and the Fourth Schedule does not, of itself, entitled the applicant to rescind the contract.

In re South of England Natural Gas and Petroleum Co., Ltd., [1911] 1 Ch. 573. A prospectus was issued which did not disclose the amount offered for subscription and actually allotted on a former prospectus. Held, this omission did not entitle an applicant for shares to rescind the contract.
In my opinion the allottee is not entitled to rescind his contract because of any breach of the statutory requirements, which extend to such comparatively unimportant matters as the names and addresses of the company's auditors. His remedy is against the directors and other persons responsible for the prospectus."-Per Swinfen Eady, J.(20)
Damages for Fraud.-Directors are liable for fraud if they have signed, or authorised the issue of, a prospectus which to their know

12 Aaron's Reefs v. Twiss, [1896] A. C. 273.
13 Buckley, Companies Acts (llth ed.), p. 220.
14 Re Scottish Petroleum Co. (1833), 23 Ch. D. 413.
15 In re Christineville Rubber Estates, Ltd., [1911] W. N. 216.
16 Oakes v. Turquand (1867), L. R. 2 H. L. 325.
17 Sharpley v. Louth and East Coast Ry. (1876), 2 Ch. D. 663.
18 Scholey v. Central Ry. (1868), L. R. 9 Eq. 266, n.
19 Ex parte Briggs (1866), L. R. 1 Eq. 483.
20 But see Nash v. Lynde, [1929] A. C. 158, which seems to throw some doubt on this.

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where is HTML where is HEAD where is TITLE the prospectus gives what is dates and parties to material contracts and states where they can be inspected, what is omission of what is applicant to inspect them does not fix him with notice of their contents. (12) Again, " it is not necessary to show that what is misrepresentation was what is sole cause. what is question is whether what is applicant acted upon what is misrepresentation, not whether he acted upon what is misrepresentation alone. He may recover although he was induced also by other things, as, for instance, his own mistake." (13) 3. That he acted promptly after discovering what is true facts. what is right to rescind must be exercised promptly if what is company is a "oing concern, and even a delay of a fortnight has been held to be too long in such a case. (14) When a shareholder was put on enquiry in June, but took no steps to make any investigation until November, it was held that his delay prevented him from rescinding what is contract. (15) what is right to rescind will also be lost if: (1) what is company goes into liquidation."(16) (2) what is shareholder does an act which shows that he elects to retain what is shares; for example, if he attends meetings,(17) receives dividends, (18) or attempts to sell what is shares. (19) what is omission on what is part of what is company to set out what is particulars required to be set out by s. 38 and what is Fourth Schedule does not, of itself, entitled what is applicant to rescind what is contract. In re South of England Natural Gas and Petroleum Co., Ltd., [1911] 1 Ch. 573. A prospectus was issued which did not disclose what is amount offered for subscription and actually allotted on a former prospectus. Held, this omission did not entitle an applicant for shares to rescind what is contract. In my opinion what is allottee is not entitled to rescind his contract because of any breach of what is statutory requirements, which extend to such comparatively unimportant matters as what is names and addresses of what is company's auditors. His remedy is against what is directors and other persons responsible for what is prospectus."-Per Swinfen Eady, J.(20) Damages for Fraud.-Directors are liable for fraud if they have signed, or authorised what is issue of, a prospectus which to their know 12 Aaron's Reefs v. Twiss, [1896] A. C. 273. 13 Buckley, Companies Acts (llth ed.), p. 220. 14 Re Scottish Petroleum Co. (1833), 23 Ch. D. 413. 15 In re Christineville Rubber Estates, Ltd., [1911] W. N. 216. 16 Oakes v. Turquand (1867), L. R. 2 H. L. 325. 17 Sharpley v. Louth and East Coast Ry. (1876), 2 Ch. D. 663. 18 Scholey v. Central Ry. (1868), L. R. 9 Eq. 266, n. 19 Ex parte Briggs (1866), L. R. 1 Eq. 483. 20 But see Nash v. Lynde, [1929] A. C. 158, which seems to throw some doubt on this. 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 51 where is strong CHAPTER 6 what is PROSPECTUS where is p align="justify" the prospectus gives what is dates and parties to material contracts and states where they can be inspected, what is omission of what is applicant to inspect them does not fix him with notice of their contents. (12) Again, " it is not necessary to show that what is misrepresentation was what is sole cause. what is question is whether what is applicant acted upon what is misrepresentation, not whether he acted upon what is misrepresentation alone. He may recover although he was induced also by other things, as, for instance, his own mistake." (13) 3. That he acted promptly after discovering what is true facts. what is right to rescind must be exercised promptly if what is company is a "oing concern, and even a delay of a fortnight has been held to be too long in such a case. (14) When a shareholder was put on enquiry in June, but took no steps to make any investigation until November, it was held that his delay prevented him from rescinding what is contract. (15) what is right to rescind will also be lost if: (1) what is company goes into liquidation."(16) (2) what is shareholder does an act which shows that he elects to retain what is shares; for example, if he attends meetings,(17) receives dividends, (18) or attempts to sell what is shares. (19) what is omission on what is part of what is company to set out what is particulars required to be set out by s. 38 and what is Fourth Schedule does not, of itself, entitled what is applicant to rescind what is contract. In re South of England Natural Gas and Petroleum Co., Ltd., [1911] 1 Ch. 573. A prospectus was issued which did not disclose what is amount offered for subscription and actually allotted on a former prospectus. Held, this omission did not entitle an applicant for shares to rescind what is contract. In my opinion what is allottee is not entitled to rescind his contract because of any breach of what is statutory requirements, which extend to such comparatively unimportant matters as what is names and addresses of what is company's auditors. His remedy is against what is directors and other persons responsible for what is prospectus."-Per Swinfen Eady, J.(20) Damages for Fraud.-Directors are liable for fraud if they have signed, or authorised what is issue of, a prospectus which to their know 12 Aaron's Reefs v. Twiss, [1896] A. C. 273. 13 Buckley, Companies Acts (llth ed.), p. 220. 14 Re Scottish Petroleum Co. (1833), 23 Ch. D. 413. 15 In re Christineville Rubber Estates, Ltd., [1911] W. N. 216. 16 Oakes v. Turquand (1867), L. R. 2 H. L. 325. 17 Sharpley v. Louth and East Coast Ry. (1876), 2 Ch. D. 663. 18 Scholey v. Central Ry. (1868), L. R. 9 Eq. 266, n. 19 Ex parte Briggs (1866), L. R. 1 Eq. 483. 20 But see Nash v. Lynde, [1929] A. C. 158, which seems to throw some doubt on this. where is Server.Execute("_SiteMap.asp") %

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