Books > Old Books > Poetry Northwest (1959)


Page 71

CHAPTER 8
MEMBERSHIP OF A COMPANY

with the amount payable on the shares and credited with the purchase price of the property. This was done, and S. made up the difference in cash. Held, S. had made payment in cash.

If the sum due to the applicant is not due immediately, e.g., if he agrees to supply goods to the company the purchase price of which, when due, is to be set off against the shares, the payment is not a payment in cash. (25)

Payment otherwise than in Cash.-Shares may, with the consent of the company, be paid for otherwise than in cash, e.g., by the sale of property to the company or by the rendering of services to the company. In such a case the contract constituting the title of the allottee, or, if the contract is not in writing, particulars of the contract must be registered within a month of allotment under s. 52 (see p. 67). The omission to register the contract renders the officers of the company liable to penalties, but does not make the allotment void.
Registration of a contract under s. 52 will not make the contract binding on the company if there was no consideration for the contract.

In re Eddystone Marine Insce. Co., [1893] 3 Ch. 9. A private company decided to turn itself into a public company. Before doing so it resolved to allot £6,000 of fully-paid shares to the existing directors and shareholders, and a contract was made agreeing to allot the shares in consideration of their past services and expenses in forming the company and establishing the business. The contract was registered and the shares were allotted. The company afterwards went into liquidation. Held, the directors and shareholders were liable to pay for the shares, as they had not been paid for in money or money's worth, past services being no consideration.

An agreement to allot shares in consideration of services to be performed in the future will also render the allottee liable to pay for the shares in cash.
" It is not open to a company to agree with the holder or proposed holder of its shares to replace the statutory liability by a special contract sounding in damages OIIIy."(26)
But a company may agree to pay a fixed sum immediately for services to be performed in the future, e.g., for the erection of a building, and to satisfy that debt by the allotment of shares.
If there is consideration for the contract, the Court will not enquire into its adequacy, as it is for the parties to make their own bargain.

In re Wragg, Ltd., [1897] 1 Ch. 796. The goodwill, stock-in-trade, and property of a business was sold to a company for £46,300, part of which was to be paid in shares.

25 Peltatt's Case (1867), L. R. 2 Ch. 527.
26 Per Parker, J., in Gardner v. Iredale, [1912] 1 Ch. 700.s

travel books:
where is HTML where is HEAD where is TITLE with what is amount payable on what is shares and credited with what is purchase price of what is property. This was done, and S. made up what is difference in cash. Held, S. had made payment in cash. If what is sum due to what is applicant is not due immediately, e.g., if he agrees to supply goods to what is company what is purchase price of which, when due, is to be set off against what is shares, what is payment is not a payment in cash. (25) Payment otherwise than in Cash.-Shares may, with what is consent of what is company, be paid for otherwise than in cash, e.g., by what is sale of property to what is company or by what is rendering of services to what is company. In such a case what is contract constituting what is title of what is allottee, or, if what is contract is not in writing, particulars of what is contract must be registered within a month of allotment under s. 52 (see p. 67). what is omission to register what is contract renders what is officers of what is company liable to penalties, but does not make what is allotment void. Registration of a contract under s. 52 will not make what is contract binding on what is company if there was no consideration for what is contract. In re Eddystone Marine Insce. Co., [1893] 3 Ch. 9. A private company decided to turn itself into a public company. Before doing so it resolved to allot £6,000 of fully-paid shares to what is existing directors and shareholders, and a contract was made agreeing to allot what is shares in consideration of their past services and expenses in forming what is company and establishing what is business. what is contract was registered and what is shares were allotted. what is company afterwards went into liquidation. Held, what is directors and shareholders were liable to pay for what is shares, as they had not been paid for in money or money's worth, past services being no consideration. An agreement to allot shares in consideration of services to be performed in what is future will also render what is allottee liable to pay for what is shares in cash. " It is not open to a company to agree with what is holder or proposed holder of its shares to replace what is statutory liability by a special contract sounding in damages OIIIy."(26) But a company may agree to pay a fixed sum immediately for services to be performed in what is future, e.g., for what is erection of a building, and to satisfy that debt by what is allotment of shares. If there is consideration for what is contract, what is Court will not enquire into its adequacy, as it is for what is parties to make their own bargain. In re Wragg, Ltd., [1897] 1 Ch. 796. what is goodwill, stock-in-trade, and property of a business was sold to a company for £46,300, part of which was to be paid in shares. 25 Peltatt's Case (1867), L. R. 2 Ch. 527. 26 Per Parker, J., in Gardner v. Iredale, [1912] 1 Ch. 700.s 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 71 where is strong CHAPTER 8 MEMBERSHIP OF A COMPANY where is p align="justify" with what is amount payable on what is shares and credited with what is purchase price of what is property. This was done, and S. made up what is difference in cash. Held, S. had made payment in cash. If what is sum due to what is applicant is not due immediately, e.g., if he agrees to supply goods to what is company what is purchase price of which, when due, is to be set off against what is shares, what is payment is not a payment in cash. (25) Payment otherwise than in Cash.-Shares may, with what is consent of what is company, be paid for otherwise than in cash, e.g., by what is sale of property to what is company or by what is rendering of services to what is company. In such a case what is contract constituting what is title of what is allottee, or, if what is contract is not in writing, particulars of what is contract must be registered within a month of allotment under s. 52 (see p. 67). what is omission to register what is contract renders what is officers of what is company liable to penalties, but does not make what is allotment void. Registration of a contract under s. 52 will not make what is contract binding on what is company if there was no consideration for what is contract. In re Eddystone Marine Insce. Co., [1893] 3 Ch. 9. A private company decided to turn itself into a public company. Before doing so it resolved to allot £6,000 of fully-paid shares to what is existing directors and shareholders, and a contract was made agreeing to allot what is shares in consideration of their past services and expenses in forming what is company and establishing what is business. what is contract was registered and what is shares were allotted. what is company afterwards went into liquidation. Held, what is directors and shareholders were liable to pay for what is shares, as they had not been paid for in money or money's worth, past services being no consideration. An agreement to allot shares in consideration of services to be performed in what is future will also render what is allottee liable to pay for what is shares in cash. " It is not open to a company to agree with what is holder or proposed holder of its shares to replace what is statutory liability by a special contract sounding in damages OIIIy."(26) But a company may agree to pay a fixed sum immediately for services to be performed in what is future, e.g., for what is erection of a building, and to satisfy that debt by what is allotment of shares. If there is consideration for what is contract, what is Court will not enquire into its adequacy, as it is for what is parties to make their own bargain. In re Wragg, Ltd., [1897] 1 Ch. 796. what is goodwill, stock-in-trade, and property of a business was sold to a company for £46,300, part of which was to be paid in shares. 25 Peltatt's Case (1867), L. R. 2 Ch. 527. 26 Per Parker, J., in Gardner v. Iredale, [1912] 1 Ch. 700.s 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 ,