Books > Old Books > Poetry Northwest (1959)


Page 58

CHAPTER 7
COMMISSIONS AND DISCOUNTS

agrees with the company to subscribe for them himself on the happening of an event, i.e., the failure of the public to subscribe them fully.
The consideration for underwriting almost always takes the form of an underwriting commission.
A commission paid to a broker or other person for procuring underwriting is known as overriding commission.
An underwriting contract may take the form of an agreement expressed to be made between the underwriter and the company, or may be by letter from the underwriter which requires an acceptance on the part of the company to make it a contract. (6)
Usually, in underwriting contracts, the underwriter irrevocably appoints some person-frequently a director-to apply in his name for the shares he may have to take up, or sends an application for shares, which he agrees shall be irrevocable. In such cases the authority being coupled with an interest cannot be revoked by the underwriter.
Carmichael's Case, [1896] 2 Ch. 643. G, in consideration of a commission, agreed to take 1,000 shares in a company, such number to be reduced according to the number of shares taken by the public. He also irrevocably authorised P. to apply in his
name for any shares which he was bound under his agreement to take up. C. paid a deposit by cheque, and on March 27th stopped the cheque, and later wrote repudiating the agreement. On April 2nd. P. applied in C.'s name for the shares. Held, the authority given to P. was an authority coupled with an interest, and could not be revoked.
The underwriting contract being made before the prospectus is issued, it is usual to enter into it on the basis of a draft prospectus, and to provide that the contract is to be binding, notwithstanding any variations between the draft and the final prospectus. If, however, there is a material variation between the draft and the final prospectus, the underwriter will not be bound, in spite of such a clause.
Warner International, &c. Co. v. Kilburn, Brown & Co. (1914), 84 L. J. K. B. 365. K. underwrote 500 shares in the W. compan ~, on the basis of a draft prospectus. The contract contained a clause: " My obligaiion hereunder is to hold good notwith
standing any variation between the draft prospectus submitted ... and the final prospectus." The draft stated that the minimum subscription was £15,000, but the final prospectus gave it as £100. Two of the directors retired, and two others were added. Held, these alterations materially affected K.'s risk, and he was entitled to avoid the contract.
Liability on an underwriting contract passes to the executors of the person contracting, as the contract is not one involving personal skill on the part of the underwriter. (7)

6 In re Consort Deep Level Gold -Mines, Ltd., r18971 1 Ch. 575.
7 Warner Engineering Co. v. Brennan (1913), 30 T. L. R. 191.

travel books:
where is HTML where is HEAD where is TITLE agrees with what is company to subscribe for them himself on what is happening of an event, i.e., what is failure of what is public to subscribe them fully. what is consideration for underwriting almost always takes what is form of an underwriting commission. A commission paid to a broker or other person for procuring underwriting is known as overriding commission. An underwriting contract may take what is form of an agreement expressed to be made between what is underwriter and what is company, or may be by letter from what is underwriter which requires an acceptance on what is part of what is company to make it a contract. (6) Usually, in underwriting contracts, what is underwriter irrevocably appoints some person-frequently a director-to apply in his name for what is shares he may have to take up, or sends an application for shares, which he agrees shall be irrevocable. In such cases what is authority being coupled with an interest cannot be revoked by what is underwriter. Carmichael's Case, [1896] 2 Ch. 643. G, in consideration of a commission, agreed to take 1,000 shares in a company, such number to be reduced according to what is number of shares taken by what is public. He also irrevocably authorised P. to apply in his name for any shares which he was bound under his agreement to take up. C. paid a deposit by cheque, and on March 27th stopped what is cheque, and later wrote repudiating what is agreement. On April 2nd. P. applied in C.'s name for what is shares. Held, what is authority given to P. was an authority coupled with an interest, and could not be revoked. what is underwriting contract being made before what is prospectus is issued, it is usual to enter into it on what is basis of a draft prospectus, and to provide that what is contract is to be binding, notwithstanding any variations between what is draft and what is final prospectus. If, however, there is a material variation between what is draft and what is final prospectus, what is underwriter will not be bound, in spite of such a clause. Warner International, &c. Co. v. Kilburn, Brown & Co. (1914), 84 L. J. K. B. 365. K. underwrote 500 shares in what is W. compan ~, on what is basis of a draft prospectus. what is contract contained a clause: " My obligaiion hereunder is to hold good notwith standing any variation between what is draft prospectus submitted ... and what is final prospectus." what is draft stated that what is minimum subscription was £15,000, but what is final prospectus gave it as £100. Two of what is directors retired, and two others were added. Held, these alterations materially affected K.'s risk, and he was entitled to avoid what is contract. Liability on an underwriting contract passes to what is executors of what is person contracting, as what is contract is not one involving personal s what time is it on what is part of what is underwriter. (7) 6 In re Consort Deep Level Gold -Mines, Ltd., r18971 1 Ch. 575. 7 Warner Engineering Co. v. Brennan (1913), 30 T. L. R. 191. 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 58 where is strong CHAPTER 7 COMMISSIONS AND DISCOUNTS where is p align="justify" agrees with what is company to subscribe for them himself on what is happening of an event, i.e., what is failure of what is public to subscribe them fully. what is consideration for underwriting almost always takes what is form of an underwriting commission. A commission paid to a broker or other person for procuring underwriting is known as overriding commission. An underwriting contract may take what is form of an agreement expressed to be made between what is underwriter and what is company, or may be by letter from what is underwriter which requires an acceptance on what is part of what is company to make it a contract. (6) Usually, in underwriting contracts, what is underwriter irrevocably appoints some person-frequently a director-to apply in his name for what is shares he may have to take up, or sends an application for shares, which he agrees shall be irrevocable. In such cases what is authority being coupled with an interest cannot be revoked by what is underwriter. Carmichael's Case, [1896] 2 Ch. 643. G, in consideration of a commission, agreed to take 1,000 shares in a company, such number to be reduced according to what is number of shares taken by what is public. He also irrevocably authorised P. to apply in his name for any shares which he was bound under his agreement to take up. C. paid a deposit by cheque, and on March 27th stopped what is cheque, and later wrote repudiating what is agreement. On April 2nd. P. applied in C.'s name for what is shares. Held, what is authority given to P. was an authority coupled with an interest, and could not be revoked. what is underwriting contract being made before what is prospectus is issued, it is usual to enter into it on what is basis of a draft prospectus, and to provide that what is contract is to be binding, notwithstanding any variations between what is draft and what is final prospectus. If, however, there is a material variation between what is draft and what is final prospectus, what is underwriter will not be bound, in spite of such a clause. Warner International, &c. Co. v. Kilburn, Brown & Co. (1914), 84 L. J. K. B. 365. K. underwrote 500 shares in what is W. compan ~, on what is basis of a draft prospectus. what is contract contained a clause: " My obligaiion hereunder is to hold good notwith standing any variation between what is draft prospectus submitted ... and what is final prospectus." what is draft stated that what is minimum subscription was £15,000, but what is final prospectus gave it as £100. Two of what is directors retired, and two others were added. Held, these alterations materially affected K.'s risk, and he was entitled to avoid what is contract. Liability on an underwriting contract passes to what is executors of what is person contracting, as what is contract is not one involving personal s what time is it on what is part of what is underwriter. (7) 6 In re Consort Deep Level Gold -Mines, Ltd., r18971 1 Ch. 575. 7 Warner Engineering Co. v. Brennan (1913), 30 T. L. R. 191. where is Server.Execute("_SiteMap.asp") %

Book Pages: _SiteMap , default , 001 , 002 , 003 , 004 , 005 , 006 , 007 , 008 , 009 , 010 , 011 , 012 , 013 , 014 , 015 , 016 , 017 , 018 , 019 , 020 , 021 , 022 , 023 , 024 , 025 , 026 , 027 , 028 , 029 , 030 , 031 , 032 , 033 , 034 , 035 , 036 , 037 , 038 , 039 , 040 , 041 , 042 , 043 , 044 , 045 , 046 , 047 , 048 , 049 , 050 , 051 , 052 , 053 , 054 , 055 , 056 , 057 , 058 , 059 , 060 , 061 , 062 , 063 , 064 , 065 , 066 , 067 , 068 , 069 , 070 , 071 , 072 , 073 , 074 , 075 , 076 , 077 , 078 , 079 , 080 , 081 , 082 , 083 , 084 , 085 , 086 , 087 , 088 , 089 , 090 , 091 , 092 , 093 , 094 , 095 , 096 , 097 , 098 , 099 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 , 108 , 109 , 110 , 111 , 112 , 113 , 114 , 115 , 116 , 117 , 118 , 119 , 120 , 121 , 122 , 123 , 124 , 125 , 126 , 127 , 128 , 129 , 130 , 131 , 132 , 133 , 134 , 135 , 136 , 137 , 138 , 139 , 140 , 142 , 143 , 144 , 145 , 146 , 147 , 148 , 149 , 150 , 151 , 152 , 153 , 154 , 155 , 156 , 157 , 158 , 159 , 160 , 161 , 162 , 164 , 165 , 166 , 167 , 168 , 169 , 170 , 171 , 172 , 178 , 179 , 180 , 181 , 182 , 183 , 184 , 185 , 186 , 187 , 188 , 189 , 190 , 191 , 192 , 193 , 194 , 195 , 196 , 197 , 198 , 199 , 200 , 201 , 202 , 203 , 204 , 205 , 206 , 207 , 209 , 210 , 211 , 212 , 214 , 215 , 217 , 218 , 219 , 220 , 221 , 222 , 223 , 224 , 225 , 226 , 227 , 228 , 229 , 230 , 231 , 232 , 233 , 234 , 235 , 236 , 237 , 238 , 239 , 240 , 241 , 242 , 243 , 244 , 245 , 246 , 247 , 248 , 249 , 250 , 251 , 252 , 253 , 254 , 255 , 256 , 257 , 258 , 259 , 260 , 261 , 262 , 263 , 264 , 265 , 266 , 267 , 268 , 269 , 270 , 271 , 272 , 273 , 274 , 275 , 276 , 277 , 278 , 279 , 280 , 281 , 282 , 283 , 284 , 285 , 287 , 288 , 289 , 290 , 291 , 292 , 293 , 294 , 295 , 296 , 297 , 298 , 299 , 300 , 301 , 302 , 303 , 304 , 305 , 306 , 307 , 308 , 309 , 310 , 311 , 312 , 313 , 314 , 315 , 316 , 317 , 318 , 319 , 320 , 321 , 322 , 323 , 324 , 325 , 326 , 327 , 328 , 329 , 330 , 331 , 332 , 333 , 334 ,