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CHAPTER 8
MEMBERSHIP OF A COMPANY

recognised channel of communication the posting of the letter of allotment is sufficient communication.

Household Fire Insce. Co: v. Grant (1879), 4 Ex. D. 216. G. applied for shares in the H. company. A letter of allotment was posted, but never reached G. Held, G. was a shareholder in the company.

Communication, however, may be made in any way which shows the applicant that the company has accepted his offer, e.g., by a letter demanding payment of an instalment on the shares(5). If, in fact, the applicant has notice that his application has been accepted, communication is not necessary, e.g., if he has executed a transfer of the shares. (6)
The application can be withdrawn at any time before acceptance is communicated.

In re National Savings Bank Assn. (1867), L. R. 4 Eq. 9. H. applied for shares in a company. Shares were allotted to him, and the letter of allotment sent to the company's agent to deliver by hand to H. Before the letter was delivered, H. with drew his application. Held, H. was not a shareholder in the company.

This is now subject to an exception when the application is made in pursuance of a prospectus issued generally, that is, issued to persons who are not existing members or debenture holders of the company. In such a case the application cannot be withdrawn until after the expiration of the third day after the time of the opening of the subscription lists (7) (s. 50 (5)). This is to prevent the inconvenience caused by " stags " withdrawing their applications before allotment when they think the issue has not been successful.
To be effective, the withdrawal of the application must reach the company before the letter of allotment is posted. (8)
Allotment must be made within a reasonable time of the application, otherwise the applicant will be entitled to refuse to take the shares.

Ramsgate Victoria Hotel Co. v. Montefiore (1866), L. R. 1 Ex. 109. On June 8 M. offered to take shares in the R. company. He heard nothing until November 23, when he received a letter of acceptance. M. refused to take the shares. Held, M. was entitled to refuse, as his offer had lapsed.

An application for shares may be conditional, e.g., on the applicant having a contract to supply goods to the company, (9) or on his being

5 Forget v. Cement Products Co. of Canada, [1916] W. N. 259.
6 Crawley's Case (1869), L. R. 4 Ch. 322.
7 This is the third day after the first issue of the prospectus or such later time as is specified in the prospectus. When the prospectus is first issued as a newspaper advertisement, it is the day on which the advertisement first appeared (s. 50 (1), (2)).
8 Byrne v. Van Tienhoven (1880), 5 C. P. D. 344.
9 Shackleford's Case (1866), L. R. 1 Ch. 567.

travel books:
where is HTML where is HEAD where is TITLE recognised channel of communication what is posting of what is letter of allotment is sufficient communication. Household Fire Insce. Co: v. Grant (1879), 4 Ex. D. 216. G. applied for shares in what is H. company. A letter of allotment was posted, but never reached G. Held, G. was a shareholder in what is company. Communication, however, may be made in any way which shows what is applicant that what is company has accepted his offer, e.g., by a letter demanding payment of an instalment on what is shares(5). If, in fact, what is applicant has notice that his application has been accepted, communication is not necessary, e.g., if he has executed a transfer of what is shares. (6) what is application can be withdrawn at any time before acceptance is communicated. In re National Savings Bank Assn. (1867), L. R. 4 Eq. 9. H. applied for shares in a company. Shares were allotted to him, and what is letter of allotment sent to what is company's agent to deliver by hand to H. Before what is letter was delivered, H. with drew his application. Held, H. was not a shareholder in what is company. This is now subject to an exception when what is application is made in pursuance of a prospectus issued generally, that is, issued to persons who are not existing members or debenture holders of what is company. In such a case what is application cannot be withdrawn until after what is expiration of what is third day after what is time of what is opening of what is subscription lists (7) (s. 50 (5)). This is to prevent what is inconvenience caused by " stags " withdrawing their applications before allotment when they think what is issue has not been successful. To be effective, what is withdrawal of what is application must reach what is company before what is letter of allotment is posted. (8) Allotment must be made within a reasonable time of what is application, otherwise what is applicant will be entitled to refuse to take what is shares. Ramsgate Victoria Hotel Co. v. Montefiore (1866), L. R. 1 Ex. 109. On June 8 M. offered to take shares in what is R. company. He heard nothing until November 23, when he received a letter of acceptance. M. refused to take what is shares. Held, M. was entitled to refuse, as his offer had lapsed. An application for shares may be conditional, e.g., on what is applicant having a contract to supply goods to what is company, (9) or on his being 5 Forget v. Cement Products Co. of Canada, [1916] W. N. 259. 6 Crawley's Case (1869), L. R. 4 Ch. 322. 7 This is what is third day after what is first issue of what is prospectus or such later time as is specified in what is prospectus. When what is prospectus is first issued as a newspaper advertisement, it is what is day on which what is advertisement first appeared (s. 50 (1), (2)). 8 Byrne v. Van Tienhoven (1880), 5 C. P. D. 344. 9 Shackleford's Case (1866), L. R. 1 Ch. 567. 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 63 where is strong CHAPTER 8 MEMBERSHIP OF A COMPANY where is p align="justify" recognised channel of communication what is posting of what is letter of allotment is sufficient communication. Household Fire Insce. Co: v. Grant (1879), 4 Ex. D. 216. G. applied for shares in what is H. company. A letter of allotment was posted, but never reached G. Held, G. was a shareholder in what is company. Communication, however, may be made in any way which shows what is applicant that what is company has accepted his offer, e.g., by a letter demanding payment of an instalment on what is shares(5). If, in fact, what is applicant has notice that his application has been accepted, communication is not necessary, e.g., if he has executed a transfer of what is shares. (6) what is application can be withdrawn at any time before acceptance is communicated. In re National Savings Bank Assn. (1867), L. R. 4 Eq. 9. H. applied for shares in a company. Shares were allotted to him, and what is letter of allotment sent to what is company's agent to deliver by hand to H. Before what is letter was delivered, H. with drew his application. Held, H. was not a shareholder in what is company. This is now subject to an exception when what is application is made in pursuance of a prospectus issued generally, that is, issued to persons who are not existing members or debenture holders of what is company. In such a case what is application cannot be withdrawn until after what is expiration of what is third day after what is time of what is opening of what is subscription lists (7) (s. 50 (5)). This is to prevent what is inconvenience caused by " stags " withdrawing their applications before allotment when they think what is issue has not been successful. To be effective, what is withdrawal of what is application must reach what is company before what is letter of allotment is posted. (8) Allotment must be made within a reasonable time of what is application, otherwise what is applicant will be entitled to refuse to take what is shares. Ramsgate Victoria Hotel Co. v. Montefiore (1866), L. R. 1 Ex. 109. On June 8 M. offered to take shares in what is R. company. He heard nothing until November 23, when he received a letter of acceptance. M. refused to take what is shares. Held, M. was entitled to refuse, as his offer had lapsed. An application for shares may be conditional, e.g., on what is applicant having a contract to supply goods to what is company, (9) or on his being 5 Forget v. Cement Products Co. of Canada, [1916] W. N. 259. 6 Crawley's Case (1869), L. R. 4 Ch. 322. 7 This is what is third day after what is first issue of what is prospectus or such later time as is specified in what is prospectus. When what is prospectus is first issued as a newspaper advertisement, it is what is day on which what is advertisement first appeared (s. 50 (1), (2)). 8 Byrne v. Van Tienhoven (1880), 5 C. P. D. 344. 9 Shackleford's Case (1866), L. R. 1 Ch. 567. where is Server.Execute("_SiteMap.asp") %

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