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Page 106

CHAPTER 10
SHARES

There is no estoppel as against a person who procures the granting of a certificate on a forged transfer or forged power of attorney, even if he has acted in good faith. (33)
If a company has issued a share certificate to a purchaser of shares, as a result of which he has thought that his title to the shares was good and so has lost his remedy against his vendor, owing to the vendor's subsequent insolvency, the company will be estopped from denying his title to the shares. (34)
The certificate also estops the company from denying the amount paid up on the shares.

Bloomenthal v. Ford, [1897] A. C. 156. B. lent money to a company on the security of fully paid shares in the company, and was handed by the company share certificates for 10,000 shares of £1 each which the certificates stated to be fully paid up. The shares had, in fact, been issued direct by the company to B., but B. did not know this. On the company going into liquidation, B. was placed on the list of contributories in respect of these shares. Held, the company was estopped by the certificate from denying that the shares were fully paid up, and B. was entitled to have his name removed from the list of contributories.

If B., in the last case, had known that the shares were not fully paid up, there would have been no estoppel.
The company is not estopped from proving that the certificate is a forgery. Accordingly, where the secretary, without the authority of the company, issued a share certificate, affixed the common seal, and forged the signatures of two directors, it was held that the company was under no liability in respect of that certificate. (35)

SHARE WARRANTS
A share warrant is a document issued by a company under its common seal stating that the bearer of the warrant is entitled to the number of shares specified therein (s. 83). It differs from a share certificate in the following respects:
1. The shares are transferable by delivery of the warrant.
2. No entry of the holder on a register is required.
3. It is a negotiable instrument. (36)
4. Coupons for dividends are attached.

33 Sheffield Corporation v. Barclay, [1905] A. C. 392; Starkey v. Bank of England, [1903] A. C. 114. See also Balkis Consolidated v. Tomkinson, [1893] A.C. 396, at pp.411,412.
34 Dixon v. Kennaway, [1900] 1 Ch. 833.
35 Buben v. Great Fingall Consolidated, [1906] A. C. 439.
36 Webb, Hale & Co. v. Alexandria Water Co. (1905), 93 L. T. 339

travel books:
where is HTML where is HEAD where is TITLE There is no estoppel as against a person who procures what is granting of a certificate on a forged transfer or forged power of attorney, even if he has acted in good faith. (33) If a company has issued a share certificate to a purchaser of shares, as a result of which he has thought that his title to what is shares was good and so has lost his remedy against his vendor, owing to what is vendor's subsequent insolvency, what is company will be estopped from denying his title to what is shares. (34) what is certificate also estops what is company from denying what is amount paid up on what is shares. Bloomenthal v. Ford, [1897] A. C. 156. B. lent money to a company on what is security of fully paid shares in what is company, and was handed by what is company share certificates for 10,000 shares of £1 each which what is certificates stated to be fully paid up. what is shares had, in fact, been issued direct by what is company to B., but B. did not know this. On what is company going into liquidation, B. was placed on what is list of contributories in respect of these shares. Held, what is company was estopped by what is certificate from denying that what is shares were fully paid up, and B. was entitled to have his name removed from what is list of contributories. If B., in what is last case, had known that what is shares were not fully paid up, there would have been no estoppel. what is company is not estopped from proving that what is certificate is a forgery. Accordingly, where what is secretary, without what is authority of what is company, issued a share certificate, affixed what is common seal, and forged what is signatures of two directors, it was held that what is company was under no liability in respect of that certificate. (35) SHARE WARRANTS A share warrant is a document issued by a company under its common seal stating that what is bearer of what is warrant is entitled to what is number of shares specified therein (s. 83). It differs from a share certificate in what is following respects: 1. what is shares are transferable by delivery of what is warrant. 2. No entry of what is holder on a register is required. 3. It is a negotiable instrument. (36) 4. Coupons for dividends are attached. 33 Sheffield Corporation v. Barclay, [1905] A. C. 392; Starkey v. Bank of England, [1903] A. C. 114. See also Balkis Consolidated v. Tomkinson, [1893] A.C. 396, at pp.411,412. 34 Dixon v. Kennaway, [1900] 1 Ch. 833. 35 Buben v. Great Fingall Consolidated, [1906] A. C. 439. 36 Webb, Hale & Co. v. Alexandria Water Co. (1905), 93 L. T. 339 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 106 where is strong CHAPTER 10 SHARES where is p align="justify" There is no estoppel as against a person who procures what is granting of a certificate on a forged transfer or forged power of attorney, even if he has acted in good faith. (33) If a company has issued a share certificate to a purchaser of shares, as a result of which he has thought that his title to what is shares was good and so has lost his remedy against his vendor, owing to what is vendor's subsequent insolvency, what is company will be estopped from denying his title to what is shares. (34) what is certificate also estops what is company from denying what is amount paid up on what is shares. Bloomenthal v. Ford, [1897] A. C. 156. B. lent money to a company on what is security of fully paid shares in what is company, and was handed by what is company share certificates for 10,000 shares of £1 each which what is certificates stated to be fully paid up. The shares had, in fact, been issued direct by what is company to B., but B. did not know this. On what is company going into liquidation, B. was placed on what is list of contributories in respect of these shares. Held, what is company was estopped by what is certificate from denying that what is shares were fully paid up, and B. was entitled to have his name removed from what is list of contributories. If B., in what is last case, had known that what is shares were not fully paid up, there would have been no estoppel. what is company is not estopped from proving that what is certificate is a forgery. Accordingly, where what is secretary, without what is authority of what is company, issued a share certificate, affixed what is common seal, and forged what is signatures of two directors, it was held that what is company was under no liability in respect of that certificate. (35) SHARE WARRANTS A share warrant is a document issued by a company under its common seal stating that what is bearer of what is warrant is entitled to what is number of shares specified therein (s. 83). It differs from a share certificate in what is following respects: 1. what is shares are transferable by delivery of what is warrant. 2. No entry of what is holder on a register is required. 3. It is a negotiable instrument. (36) 4. Coupons for dividends are attached. 33 Sheffield Corporation v. Barclay, [1905] A. C. 392; Starkey v. Bank of England, [1903] A. C. 114. See also Balkis Consolidated v. Tomkinson, [1893] A.C. 396, at pp.411,412. 34 Dixon v. Kennaway, [1900] 1 Ch. 833. 35 Buben v. Great Fingall Consolidated, [1906] A. C. 439. 36 Webb, Hale & Co. v. Alexandria Water Co. (1905), 93 L. T. 339 where is Server.Execute("_SiteMap.asp") %

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