Society – The minutes of a meeting of a company, subscribed by the preses, bore that certain members sold to another their shares of the joint stock at a given price; the person to whom the shares were so assigned afterwards entered to the management of the whole concern, and applied the profits to his use; it is found that he was obliged to pay to each partner the sums mentioned in said minute, though it was objected, that the minute was erased in some sentences, and that there was locus paenitentiae till a more formal assignment was made.
The assignee is also ordered to free the assignors from the debts of the society, and pay them interest on the sums found due.
Compensation – In a suspension, the suspender’s plea of compensation is rejected.
[1719] UKHL Robertson – 249, (1719) Robertson 249
Bailii
Scotland
Company
Updated: 05 January 2022; Ref: scu.553535