THE DAIRY CASE.
HEARING CONTINUED. CASE FOR THE COMPANY. COURT RESERVES DECISION. By Telegraph.—Press Association. Wellington, July 14. The Full Court this morning continued hearing the argument in the case of Evan MacDonald v. the Normanby Dairy Factory Company. Mr. Spratt, for appellant, elaborated his argument that it was not competent for respondent, by altering its articles of association, to increase the shareholder’s liability in respect to the number of shares which he must hold. The alteration made in the articles offended both against the Companies Act and the memorandum of association of the company. Mr. O’Dea, for the respondent company, contended that a shareholder in a company took his shares subject to any alteration in the articles of assocation. A shareholder, he said, took up his shares subject to the articles of association. whether as originally drawn or as altered. Any company, he argued, could, by its new articles, do what it could validly do by its original The alteration of the articles, whereby appellant was compelled to take up more shares than he had originally held, was. therefor, he contended, perfectly valid. The court reserved its decision.
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Taranaki Daily News, 15 July 1922, Page 5
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189THE DAIRY CASE. Taranaki Daily News, 15 July 1922, Page 5
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