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Page 62

CHAPTER 8
MEMBERSHIP OF A COMPANY

himself and the company, but also as between himself and the other persons who became members.(3)
The foregoing applies equally to directors who have signed and delivered to the Registrar an undertaking to take up their qualification shares, as under s. 181 they are in the same position as if they were subscribers of the memorandum.
Other Members.-A person who has agreed to become a member of the company does not actually become one until his name is entered in the register of members. The section " makes the placing of the name of a shareholder on the register a condition precedent to membership." (4)
An agreement to take shares is usually made by an application followed by an allotment. The allotment is not complete until there has been communication of the allotment to the applicant for shares, and until communication the application may be withdrawn.

ALLOTMENT
An application for shares in a company may be made verbally, but it is usually made in writing. The ordinary law of contract, which requires an offer and an acceptance, applies to agreements to take shares in companies; in such cases the prospectus is not the offer-it is merely an invitation to the public to make offers. The offer is made by the applicant in sending a form of application for shares to the company.
The acceptance is made by a letter of allotment sent by the company to the applicant. The acceptance must be unconditional and correspond with the terms of the application. If, therefore, the application was for 100 shares, and only 25 were allotted, the applicant could refuse to take any shares. As an issue may be over subscribed, and the company unable to make an allotment in full to every applicant, in order to obviate this difficulty the form of application invariably runs, " I agree to accept such shares or any smaller number that may be allotted to me."
To constitute a binding contract, the allotment must be communicated to the applicant. In circumstances where the post is the

3 Lord Lurgan's Case, [1902] 1 Ch. 707.
4 Per Fry, L.J., in Nicol's Case (1885), 29 Ch. D. at p. 447.

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where is HTML where is HEAD where is TITLE himself and what is company, but also as between himself and what is other persons who became members.(3) what is foregoing applies equally to directors who have signed and delivered to what is Registrar an undertaking to take up their qualification shares, as under s. 181 they are in what is same position as if they were subscribers of what is memorandum. Other Members.-A person who has agreed to become a member of what is company does not actually become one until his name is entered in what is register of members. what is section " makes what is placing of what is name of a shareholder on what is register a condition precedent to membership." (4) An agreement to take shares is usually made by an application followed by an allotment. what is allotment is not complete until there has been communication of what is allotment to what is applicant for shares, and until communication what is application may be withdrawn. ALLOTMENT An application for shares in a company may be made verbally, but it is usually made in writing. what is ordinary law of contract, which requires an offer and an acceptance, applies to agreements to take shares in companies; in such cases what is prospectus is not what is offer-it is merely an invitation to what is public to make offers. what is offer is made by what is applicant in sending a form of application for shares to what is company. what is acceptance is made by a letter of allotment sent by what is company to what is applicant. what is acceptance must be unconditional and correspond with what is terms of what is application. If, therefore, what is application was for 100 shares, and only 25 were allotted, what is applicant could refuse to take any shares. As an issue may be over subscribed, and what is company unable to make an allotment in full to every applicant, in order to obviate this difficulty what is form of application invariably runs, " I agree to accept such shares or any smaller number that may be allotted to me." To constitute a binding contract, what is allotment must be communicated to what is applicant. In circumstances where what is post is what is 3 Lord Lurgan's Case, [1902] 1 Ch. 707. 4 Per Fry, L.J., in Nicol's Case (1885), 29 Ch. D. at p. 447. 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 62 where is strong CHAPTER 8 MEMBERSHIP OF A COMPANY where is p align="justify" himself and what is company, but also as between himself and what is other persons who became members.(3) what is foregoing applies equally to directors who have signed and delivered to what is Registrar an undertaking to take up their qualification shares, as under s. 181 they are in what is same position as if they were subscribers of what is memorandum. Other Members.-A person who has agreed to become a member of what is company does not actually become one until his name is entered in what is register of members. what is section " makes what is placing of what is name of a shareholder on what is register a condition precedent to membership." (4) An agreement to take shares is usually made by an application followed by an allotment. what is allotment is not complete until there has been communication of what is allotment to what is applicant for shares, and until communication what is application may be withdrawn. ALLOTMENT An application for shares in a company may be made verbally, but it is usually made in writing. what is ordinary law of contract, which requires an offer and an acceptance, applies to agreements to take shares in companies; in such cases what is prospectus is not what is offer-it is merely an invitation to what is public to make offers. what is offer is made by what is applicant in sending a form of application for shares to what is company. what is acceptance is made by a letter of allotment sent by what is company to what is applicant. what is acceptance must be unconditional and correspond with what is terms of what is application. If, therefore, what is application was for 100 shares, and only 25 were allotted, what is applicant could refuse to take any shares. As an issue may be over subscribed, and what is company unable to make an allotment in full to every applicant, in order to obviate this difficulty what is form of application invariably runs, " I agree to accept such shares or any smaller number that may be allotted to me." To constitute a binding contract, what is allotment must be communicated to what is applicant. In circumstances where what is post is what is 3 Lord Lurgan's Case, [1902] 1 Ch. 707. 4 Per Fry, L.J., in Nicol's Case (1885), 29 Ch. D. at p. 447. where is Server.Execute("_SiteMap.asp") %

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