ALLOTMENT OF SHARES

Evening Post, Volume CXIII, Issue 141, 18 June 1927, Page 11

ALLOTMENT OF SHARES

CLAIM FOR PAYMENT SUCCEEDS

„An action, was heard bef(>l'« his Honour the Chief, Justice (Sir Charles Skerrett) in the (supreme Court yesterday afternoon, in which Dominion Securities claimed £300 from William Duncan, farmer, of Frankton Junction. ' ;

The facts were that Duncan agreed to take three thousand one pound shares in a company kho^u as Dominion Securities, .Ltd., which was formed for the purpose of holding debentures issued by the New Zeehan Consolidated. Co. The plaintiff company contended that Duncan had paid only £300, and that in support of a subset quent admission by him that the balance was due, he now^sought to repudiate liability.

Irt liis defence, the defcHdant set up a number of matters, and in particular said that "he had never intended to take shares in the plaintiff company, blit had thought ne was buying debentures in the Zeehan Company, and that-if it was held that he had taken shares, then he did so subject to various conditions, which, he claimed, had not been fulfilled/ His Hbiioiir, in giving judgment, stated that m his opinion the case should never have been defended. Judgment was entered for the amount accordingly. Mr-.®- G- Watson appeared for the plaintiff company, and Mr. Fotheringham for the defendant.