SALE OF SHARES

Sun (Auckland), Volume 1, Issue 105, 25 July 1927, Page 9

SALE OF SHARES

REFUND SOUGHT PLAINTIFF’S DEATH ACTION CONTINUED TO-DAY Adjourned on December S last owing to the death of the plaintiff, Samuel Hardy, retired farmer, of Cambridge, which occurred during the evening of the first day’s proceedings, the action brought by the deceased against Arthur Cleave, printer and company promoter, of Auckland, and Wairakel, Limited, was continued to-day before his Honour Mr. Justice Adams. The action was for the refund of money paid for shares, totalling £IOO, and damages, £63 16s. Mr. Jacka appeared for the plaintiff, Mr. Luxford and Mr. Beattie for A. Cleave, and Mr. Richmond for Wairakei. Limited. It was alleged by plaintiff in evidence given before his death that through fradulent misrepresentation shares held by the defendant Cleave, a director in Wairakei, Limited, had been sold to him in place of the original shares he had applied for. The claim asked for the removal of plaintiff’s name from the share list, and the refund of money paid and damages. A denial of the allegations was made by the defendants, who claimed that plaintiff had delayed in applying for the removal of his name from the register, and had acquiesced in its boing placed thereon. On behalf of the defendant Cleave it was contended that plaintiff purchased the shares from him and that a transfer °f the shares was made in the ordinary wav and accepted by plaintiff. Two sons of the deceased who had obtained letters of administration, were substituted as plaintiffs. When the case was resumed this morning his Honour expressed surprise that the Wairakei Company had been brought into the action at all. As far as he could see no action was brought ’’•gainst it. It was contended by Mr. Jacka that the company, to all intents and purposes, was the defendant Cleave. (Proceeding).