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Page 194

CHAPTER 17
DEBENTURES

receive notice of a trust, the clause relieves it from the obligation of entering it on its register, but if it deals with the debentures as a trader, e.g., by advancing money on them, after notice of a trust, it will be bound by that trust.(34)
4. Transfer of the debentures is provided for, and equities between the company and prior holders are excluded.
5. The principal money secured by the debenture is made payable at the company's registered office or at its bankers, and the interest is made payable by cheque posted to the debenture holders' registered address.
If this clause is not inserted it is the company's duty to follow the usual rule and seek out its creditor and pay him.
Fowler v. Midland Electric Corpn., [1917] 1 Ch. 656. F. held eighteen £100 debentures payable in June, 1913, in the M. company. Before the date of redemption, F. died, and her executors neglected to present the debentures to the company for payment. In June, 1916, the company was sued for principal and interest. Held, as the debentures contained no clause to the effect set out above, it was the company's duty to seek out the debenture holder and pay her; as this had not been done, the company was liable to pay the principal with interest until the date of payment.
6. The principal money is made payable on the happening of certain events. These frequently are
(a) if the interest is in arrear for two months;
(b) if the company is wound up, compulsorily or voluntarily; (c) if any execution or distress is levied upon the company's assets;
(d) if a receiver is appointed;
(e) if the company ceases to carry on business;
(f) when there is a trust deed, if a breach of any of the covenants in the trust deed is committed.
The debenture holder is entitled to repayment of his principal on the company's going into liquidation, whether or not the date for repayment has arrived. (35)
7. Power to appoint a receiver is given, when the principal becomes payable.
8. If there is a trust deed, the debentures are made with the benefit of and subject to the provisions in the trust deed.

34 Bradford Bank v. Briggs (1887), 12 App. Cas. 29; Mackereth v. Wigan Coal and Iron Co., [1916] 2 Ch. 293.
35 Hodson v. Tea Co. (1880), 14 Ch. D. 859.

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where is HTML where is HEAD where is TITLE receive notice of a trust, what is clause relieves it from what is obligation of entering it on its register, but if it deals with what is debentures as a trader, e.g., by advancing money on them, after notice of a trust, it will be bound by that trust.(34) 4. Transfer of what is debentures is provided for, and equities between what is company and prior holders are excluded. 5. what is principal money secured by what is debenture is made payable at what is company's registered office or at its bankers, and what is interest is made payable by cheque posted to what is debenture holders' registered address. If this clause is not inserted it is what is company's duty to follow what is usual rule and seek out its creditor and pay him. Fowler v. Midland Electric Corpn., [1917] 1 Ch. 656. F. held eighteen £100 debentures payable in June, 1913, in what is M. company. Before what is date of redemption, F. died, and her executors neglected to present what is debentures to what is company for payment. In June, 1916, what is company was sued for principal and interest. Held, as what is debentures contained no clause to what is effect set out above, it was what is company's duty to seek out what is debenture holder and pay her; as this had not been done, what is company was liable to pay what is principal with interest until what is date of payment. 6. what is principal money is made payable on what is happening of certain events. These frequently are (a) if what is interest is in arrear for two months; (b) if what is company is wound up, compulsorily or voluntarily; (c) if any execution or distress is levied upon what is company's assets; (d) if a receiver is appointed; (e) if what is company ceases to carry on business; (f) when there is a trust deed, if a breach of any of what is covenants in what is trust deed is committed. what is debenture holder is entitled to repayment of his principal on what is company's going into liquidation, whether or not what is date for repayment has arrived. (35) 7. Power to appoint a receiver is given, when what is principal becomes payable. 8. If there is a trust deed, what is debentures are made with what is benefit of and subject to what is provisions in what is trust deed. 34 Bradford Bank v. Briggs (1887), 12 App. Cas. 29; Mackereth v. Wigan Coal and Iron Co., [1916] 2 Ch. 293. 35 Hodson v. Tea Co. (1880), 14 Ch. D. 859. 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 194 where is strong CHAPTER 17 DEBENTURES where is p align="justify" receive notice of a trust, what is clause relieves it from what is obligation of entering it on its register, but if it deals with what is debentures as a trader, e.g., by advancing money on them, after notice of a trust, it will be bound by that trust.(34) 4. Transfer of what is debentures is provided for, and equities between what is company and prior holders are excluded. 5. what is principal money secured by what is debenture is made payable at what is company's registered office or at its bankers, and what is interest is made payable by cheque posted to what is debenture holders' registered address. If this clause is not inserted it is what is company's duty to follow what is usual rule and seek out its creditor and pay him. Fowler v. Midland Electric Corpn., [1917] 1 Ch. 656. F. held eighteen £100 debentures payable in June, 1913, in what is M. company. Before the date of redemption, F. died, and her executors neglected to present what is debentures to what is company for payment. In June, 1916, what is company was sued for principal and interest. Held, as what is debentures contained no clause to what is effect set out above, it was what is company's duty to seek out what is debenture holder and pay her; as this had not been done, what is company was liable to pay what is principal with interest until what is date of payment. 6. what is principal money is made payable on what is happening of certain events. These frequently are (a) if what is interest is in arrear for two months; (b) if what is company is wound up, compulsorily or voluntarily; (c) if any execution or distress is levied upon what is company's assets; (d) if a receiver is appointed; (e) if what is company ceases to carry on business; (f) when there is a trust deed, if a breach of any of what is covenants in what is trust deed is committed. what is debenture holder is entitled to repayment of his principal on what is company's going into liquidation, whether or not what is date for repayment has arrived. (35) 7. Power to appoint a receiver is given, when what is principal becomes payable. 8. If there is a trust deed, what is debentures are made with the benefit of and subject to what is provisions in what is trust deed. 34 Bradford Bank v. Briggs (1887), 12 App. Cas. 29; Mackereth v. Wigan Coal and Iron Co., [1916] 2 Ch. 293. 35 Hodson v. Tea Co. (1880), 14 Ch. D. 859. where is Server.Execute("_SiteMap.asp") %

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