CLAIM FOR £lOOO.

Waikato Times, Volume 112, Issue 18804, 28 November 1932, Page 8

CLAIM FOR £IOOO.

A CONTRACTOR’S CASE. JUDGMENT FOR PLAINTIFF. (By Telegraph.—Press Association.) 'CHRISTCHURCH, Saturday. ' Judgment for plaintiff was delivered y on Saturday by (Mr Justice Ostler a case in which P. Graham and Son, Limited, building contractors, sought for an order against David Manson, and Alexander Hamilton Forbes, company directors, for specific •performance of a contract to buy debentures ■totalling £IOOO in Regent Street, Limited. The action related to a financial adjustment in the building of the shops of Regent Street. The claim set out that part of the financial arrangements were between plaintiff company and the defendants individually. The defendants were two directors of Regent Street, Limited. A former director of Regent Street, Limited, J• JDougall, solictor, was not a defendant, as lie had purchased Hie debentures as undertaker. The question before Ihe Court was whether Hie undertaking was a joint one or a several one with each director personally responsible. Counsel for Hie defendants said the defence was a denial of Hie specific words “at par” willi relation to til© debentures. The defendant company, it was held, was entitled to lui\- ihe shares at the same price as the public. The judgment concluded: “if the co ti I rad is not specifically porlotniccl within "in; week Hie plainlilf company may enter judgment against each of ihe defendants for £SOO dam-, ages for breach of ronlraet. Mi 111 ’ regard to costs, there will he an order that defeiidanls do each pay one half or ihe plainlilT company's costs oil Ihe highest scale, as on a claim for C|mm, willi witnesses’ expenses and disbursements. ’’ _j