Waddie & Co., Ltd Petitioners [1900] ScotLR 38_212 (19 December 1900)

Court found it just and equitable to grant relief by authorising filing of a memorandum specifying consideration for which shares were issued, treating it as a sufficient contract under Companies Act 1867.

Citation: [1900] ScotLR 38_212
Parties: Petitioner: Waddie & Company, Limited; Respondent: Charles John Waddie
Jurisdiction: Scotland
Judgment Date: 19 December 1900
Procedural Posture: Petition / Final Order Granting Relief
Outcome: Petition granted
Legal Topics: Issue of Shares, Subscription of Memorandum of Association, Consideration Other Than Cash, Filing of Memorandum

Company Law Issue of Shares Subscription of Memorandum of Association Consideration Other Than Cash Filing of Memorandum

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 5 Party arguments 2 Amounts and remedies 4

Parties

Waddie & Company, Limited

Petitioner

Charles John Waddie

Respondent

Procedural Posture

Petition / Final Order Granting Relief

Legal Issues

1 Whether shares issued for consideration other than cash without filing a contract under Companies Act 1867 can be regularised by filing a memorandum under Companies Act 1898

Ratio Decidendi

Court Disposition

Petition granted

Orders

Direct a memorandum in writing specifying considerations for which shares were issued to be filed with Registrar within twenty-one days
On filing, memorandum to operate as if a sufficient contract in writing had been filed before issue of shares