Books > Old Books > Poetry Northwest (1959)


Page 187

CHAPTER 17
DEBENTURES

On the other hand, the lender may retain any securities deposited with him as security for such part of the money lent as has been applied in paying the company's debts.(11)
2. If he can identify his money or any property purchased with it, he is entitled to what is known as a tracing order.

" A company or other statutory association cannot by itself or through an agent be party to an ultra vires act. If its directors or agents affecting to act on its behalf borrow money which it has no power to borrow, the money borrowed is in their hands the property of the lender. At law, therefore, the lender can recover the money, so long as he can identify it, and even if it has been employed in purchasing property, there may be cases in which, by ratifying the action of those who have so employed it, he may recover the property purchased." (12)
3. He may recover damages from the directors for breach of warranty of authority.(13)

DEBENTURES
A debenture is a document containing an acknowledgment of indebtedness which need not be, although it usually is, under seal, which need not give, although it usually does give, a charge on the assets of the company, and which may or may not be one of a series. (14)
The Act (s. 455) defines " debenture " as including debenture stock; bonds, and any other securities of a company whether constituting a charge on the assets of the company or not. A mortgage of land is a debenture.
Debenture stock is borrowed money capitalised and made capable of division into fractional amounts. It is usually secured by a trust deed.
The charge given by debentures may either be a specific charge or a floating charge. If the debentures are issued in a series and give a specific charge on the company's property they are always secured by means of a trust deed. The trust deed usually gives a floating charge in addition to the fixed charge.
Debentures secured by a fixed charge on the company's assets are often called. ,,mortgage debentures." The Stock Exchange will not give a quotation of debentures or debenture stock as " First Mortgage Debentures " unless a specific first mortgage is created in favour of the debenture holders.

11 Blackburn Bdg. Socy. v. Cunliffe, Brooks &Co. (1882),
12 Ch. D. 61; 9 App. Cas. 85 7 12 Per Lord Parker, [1914] A. C. at p. 441.
13 Firbank's Exors. v. Humphreys (1886), 18 Q. B. D. 54.
14 See Lemon v. Austin Friars Trust, [1926] 1 Ch. 1.

travel books:
where is HTML where is HEAD where is TITLE On what is other hand, what is lender may retain any securities deposited with him as security for such part of what is money lent as has been applied in paying what is company's debts.(11) 2. If he can identify his money or any property purchased with it, he is entitled to what is known as a tracing order. " A company or other statutory association cannot by itself or through an agent be party to an ultra vires act. If its directors or agents affecting to act on its behalf borrow money which it has no power to borrow, what is money borrowed is in their hands what is property of what is lender. At law, therefore, what is lender can recover what is money, so long as he can identify it, and even if it has been employed in purchasing property, there may be cases in which, by ratifying what is action of those who have so employed it, he may recover what is property purchased." (12) 3. He may recover damages from what is directors for breach of warranty of authority.(13) DEBENTURES A debenture is a document containing an acknowledgment of indebtedness which need not be, although it usually is, under seal, which need not give, although it usually does give, a charge on what is assets of what is company, and which may or may not be one of a series. (14) what is Act (s. 455) defines " debenture " as including debenture stock; bonds, and any other securities of a company whether constituting a charge on what is assets of what is company or not. A mortgage of land is a debenture. Debenture stock is borrowed money capitalised and made capable of division into fractional amounts. It is usually secured by a trust deed. what is charge given by debentures may either be a specific charge or a floating charge. If what is debentures are issued in a series and give a specific charge on what is company's property they are always secured by means of a trust deed. what is trust deed usually gives a floating charge in addition to what is fixed charge. Debentures secured by a fixed charge on what is company's assets are often called. ,,mortgage debentures." what is Stock Exchange will not give a quotation of debentures or debenture stock as " First Mortgage Debentures " unless a specific first mortgage is created in favour of what is debenture holders. 11 Blackburn Bdg. Socy. v. Cunliffe, Brooks &Co. (1882), 12 Ch. D. 61; 9 App. Cas. 85 7 12 Per Lord Parker, [1914] A. C. at p. 441. 13 Firbank's Exors. v. Humphreys (1886), 18 Q. B. D. 54. 14 See Lemon v. Austin Friars Trust, [1926] 1 Ch. 1. 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 187 where is strong CHAPTER 17 DEBENTURES where is p align="justify" On what is other hand, what is lender may retain any securities deposited with him as security for such part of what is money lent as has been applied in paying what is company's debts.(11) 2. If he can identify his money or any property purchased with it, he is entitled to what is known as a tracing order. " A company or other statutory association cannot by itself or through an agent be party to an ultra vires act. If its directors or agents affecting to act on its behalf borrow money which it has no power to borrow, what is money borrowed is in their hands the property of what is lender. At law, therefore, what is lender can recover what is money, so long as he can identify it, and even if it has been employed in purchasing property, there may be cases in which, by ratifying what is action of those who have so employed it, he may recover what is property purchased." (12) 3. He may recover damages from what is directors for breach of warranty of authority.(13) DEBENTURES A debenture is a document containing an acknowledgment of indebtedness which need not be, although it usually is, under seal, which need not give, although it usually does give, a charge on the assets of what is company, and which may or may not be one of a series. (14) what is Act (s. 455) defines " debenture " as including debenture stock; bonds, and any other securities of a company whether constituting a charge on what is assets of what is company or not. A mortgage of land is a debenture. Debenture stock is borrowed money capitalised and made capable of division into fractional amounts. It is usually secured by a trust deed. what is charge given by debentures may either be a specific charge or a floating charge. If what is debentures are issued in a series and give a specific charge on what is company's property they are always secured by means of a trust deed. what is trust deed usually gives a floating charge in addition to what is fixed charge. Debentures secured by a fixed charge on what is company's assets are often called. ,,mortgage debentures." what is Stock Exchange will not give a quotation of debentures or debenture stock as " First Mortgage Debentures " unless a specific first mortgage is created in favour of what is debenture holders. 11 Blackburn Bdg. Socy. v. Cunliffe, Brooks &Co. (1882), 12 Ch. D. 61; 9 App. Cas. 85 7 12 Per Lord Parker, [1914] A. C. at p. 441. 13 Firbank's Exors. v. Humphreys (1886), 18 Q. B. D. 54. 14 See Lemon v. Austin Friars Trust, [1926] 1 Ch. 1. 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 ,