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Page 196

CHAPTER 17
DEBENTURES

Re Palmer's Decoration and Furnishing Co., [1904] 2 Ch. 743. B. held debentures containing a clause similar to that set out above. After a resolution for winding up had been passed, he transferred them for value to C., who took without notice of any defect in 13.'s title. Notice of transfer but no request for registration was given to the liquidator. C. claimed payment, but the Court found that B. had paid nothing for the debentures and had obtained tnem by misrepresentation. Held, notwithstanding the clause, C. took subject to the company's claim against B. Re Goy & Co. was distinguished on the ground that when the transfer in that case was sent for registration, the company was not aware of and was not setting up any equities between itself and the transferor.

Register of Debenture Holders-A company registered in England must not keep its register of debenture holders in Scotland, and viceversa. The register must be kept at the registered office or at any other office of the company where it is made up and, if it is made up by an agent, it may be kept at the agent's office (s. 86). Debenture holders and shareholders have the right to inspect every register of debenture holders subject to such reasonable restrictions as the company may in general meeting impose, so that not less than two hours a day is allowed for inspection. The register may be closed for not more than thirty days in any year. A copy may be demanded on payment of 6d. for every 100 words (s. 87).

Refusal to allow inspection or to supply a copy exposes the company and every officer in default to a fine of £5, and, in addition, a default fine of £2 a day. The Court may also, by order, compel inspection of the register or direct copies to be supplied. The order is made on application by summons under Ord. 53B, r. 8 (e).

BEARER DEBENTURES
Debentures payable to bearer are in the same form as registered debentures, except that they are expressed to be made payable to bearer, and coupons for the interest are attached. The endorsed conditions are also in the same form, with the necessary modifications for bearer, instead of registered, instruments.
Bearer debentures are negotiable instruments, and consequently a transferee in good faith and for value takes them free from any defects in the title of a prior holder.
Bechuanaland Exploration Co. v. London Trading Bank, [1898] 2 Q. B. 658. The B. company owned some bearer debentures and kept them in the safe. The secretary fraudulently took them from the safe and deposited them with the bank, who took them in good faith and as security for advances to the secretary. Held, the debentures were negotiable instruments transferable by delivery and the bank were entitled to them as against the B. company.

The Courts take judicial notice of the fact that bearer debentures are negotiable instruments.(35)

35 Edelstvin v. Schuler, [1302] 2 K. B. 144.

travel books:
where is HTML where is HEAD where is TITLE Re Palmer's Decoration and Furnishing Co., [1904] 2 Ch. 743. B. held debentures containing a clause similar to that set out above. After a resolution for winding up had been passed, he transferred them for value to C., who took without notice of any defect in 13.'s title. Notice of transfer but no request for registration was given to what is liquidator. C. claimed payment, but what is Court found that B. had paid nothing for what is debentures and had obtained tnem by misrepresentation. Held, notwithstanding what is clause, C. took subject to what is company's claim against B. Re Goy & Co. was distinguished on what is ground that when what is transfer in that case was sent for registration, what is company was not aware of and was not setting up any equities between itself and what is transferor. Register of Debenture Holders-A company registered in England must not keep its register of debenture holders in Scotland, and viceversa. what is register must be kept at what is registered office or at any other office of what is company where it is made up and, if it is made up by an agent, it may be kept at what is agent's office (s. 86). Debenture holders and shareholders have what is right to inspect every register of debenture holders subject to such reasonable restrictions as what is company may in general meeting impose, so that not less than two hours a day is allowed for inspection. what is register may be closed for not more than thirty days in any year. A copy may be demanded on payment of 6d. for every 100 words (s. 87). Refusal to allow inspection or to supply a copy exposes what is company and every officer in default to a fine of £5, and, in addition, a default fine of £2 a day. what is Court may also, by order, compel inspection of what is register or direct copies to be supplied. what is order is made on application by summons under Ord. 53B, r. 8 (e). BEARER DEBENTURES Debentures payable to bearer are in what is same form as registered debentures, except that they are expressed to be made payable to bearer, and coupons for what is interest are attached. what is endorsed conditions are also in what is same form, with what is necessary modifications for bearer, instead of registered, instruments. Bearer debentures are negotiable instruments, and consequently a transferee in good faith and for value takes them free from any defects in what is title of a prior holder. Bechuanaland Exploration Co. v. London Trading Bank, [1898] 2 Q. B. 658. what is B. company owned some bearer debentures and kept them in what is safe. what is secretary fraudulently took them from what is safe and deposited them with what is bank, who took them in good faith and as security for advances to what is secretary. Held, what is debentures were negotiable instruments transferable by delivery and what is bank were entitled to them as against what is B. company. what is Courts take judicial notice of what is fact that bearer debentures are negotiable instruments.(35) 35 Edelstvin v. Schuler, [1302] 2 K. B. 144. 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 196 where is strong CHAPTER 17 DEBENTURES where is p align="justify" Re Palmer's Decoration and Furnishing Co., [1904] 2 Ch. 743. B. held debentures containing a clause similar to that set out above. After a resolution for winding up had been passed, he transferred them for value to C., who took without notice of any defect in 13.'s title. Notice of transfer but no request for registration was given to what is liquidator. C. claimed payment, but what is Court found that B. had paid nothing for what is debentures and had obtained tnem by misrepresentation. Held, notwithstanding the clause, C. took subject to what is company's claim against B. Re Goy & Co. was distinguished on what is ground that when what is transfer in that case was sent for registration, what is company was not aware of and was not setting up any equities between itself and what is transferor. Register of Debenture Holders-A company registered in England must not keep its register of debenture holders in Scotland, and viceversa. what is register must be kept at what is registered office or at any other office of what is company where it is made up and, if it is made up by an agent, it may be kept at what is agent's office (s. 86). Debenture holders and shareholders have what is right to inspect every register of debenture holders subject to such reasonable restrictions as what is company may in general meeting impose, so that not less than two hours a day is allowed for inspection. what is register may be closed for not more than thirty days in any year. A copy may be demanded on payment of 6d. for every 100 words (s. 87). Refusal to allow inspection or to supply a copy exposes what is company and every officer in default to a fine of £5, and, in addition, a default fine of £2 a day. what is Court may also, by order, compel inspection of what is register or direct copies to be supplied. what is order is made on application by summons under Ord. 53B, r. 8 (e). BEARER DEBENTURES Debentures payable to bearer are in what is same form as registered debentures, except that they are expressed to be made payable to bearer, and coupons for what is interest are attached. what is endorsed conditions are also in what is same form, with what is necessary modifications for bearer, instead of registered, instruments. Bearer debentures are negotiable instruments, and consequently a transferee in good faith and for value takes them free from any defects in what is title of a prior holder. Bechuanaland Exploration Co. v. London Trading Bank, [1898] 2 Q. B. 658. what is B. company owned some bearer debentures and kept them in what is safe. what is secretary fraudulently took them from the safe and deposited them with what is bank, who took them in good faith and as security for advances to what is secretary. Held, what is debentures were negotiable instruments transferable by delivery and what is bank were entitled to them as against what is B. company. what is Courts take judicial notice of what is fact that bearer debentures are negotiable instruments.(35) 35 Edelstvin v. Schuler, [1302] 2 K. B. 144. where is Server.Execute("_SiteMap.asp") %

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