A SHAREBROKING CASE.
POWERS OF SECRETARIES.
[BY TELEGKAWI.—PRESS ASSOCIATION.] Kesfzok, Thursday. As important judgment affecting ehareorders and sharebrokers was delivered by '■■lit. R. H. Tnrton, S.M., to-day. A firm O; -Narebrokere, one of whom is the secre; v ? of the Big River Company, sold Big xiiver shares without commission to a local resident, who declined 'lability in an action for damages for breach of contract. The sellers' and buyers' note was on the .firm's usual form, issued b> the secretary at the company, without express authority, Defendant did not deny the authority, but counsel relied on section 361 of the Mining Act. 1905, prohibiting a secretary of a mining company from acting as a sharebroker, also the non-compliance of lbs buyer with section 3 of the Stamp Act, 1902, in issuing a buyer's note without authority. The magistrate held that as no remuneration was given, the secretary could #3 act. Regarding the issue of the buyer's note, be held that the was insufficient and nonsuited plaintiff. Notice or appeal was given. ■
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19081127.2.36
Bibliographic details
New Zealand Herald, Volume XLV, Issue 13918, 27 November 1908, Page 5
Word Count
171A SHAREBROKING CASE. New Zealand Herald, Volume XLV, Issue 13918, 27 November 1908, Page 5
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.