IMPORTANT TO COMPANY PROMOTERS.
[BY TELEGRAPH.--PRESS ASSOCIATION.] Dunethn, Tuesday. Mr. Justice Williams delivered a judgment of importance to company promoters and others in chambers to-day. William Nahr and others applied to have their names removed from the register of shareholders of the Wareatea Gold Mining Company. His Honor said the case must be determined on tho wording of the application for shares, if there was a contract contained. In the case of Nahr, the application was to the directors of an existing company for shares in that company, and the agreement was to accept the shares allotted, subject to the rules of the company. Now, at the time of this application the company was not constituted. There were no directors and no rules. Allotment was, therefore, not in effect. What was asked for ? He asked for something which could not and was nob given him ; bub something else was given him, which he is unwilling to accept. After the formation ho did nothing which committed him to acceptance of the shares, and his name ought; to be removed from the register. An order was made accordingly.
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Bibliographic details
New Zealand Herald, Volume XXV, Issue 9187, 17 October 1888, Page 5
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186IMPORTANT TO COMPANY PROMOTERS. New Zealand Herald, Volume XXV, Issue 9187, 17 October 1888, Page 5
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