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In the debate on the proposed consolidation of the Statutes, on the 9th February, 1854, Lord Campbell said, "that the Statutes at Large extended to about fifty volumes folio, but all the Statutes which were Introduction, Notes, Forms, and Index. By GEORGE SWEET, Esq., volumes compiled by his learned friend Mr. Welsby. When he (Lord usually required by lawyers for reference might be found in three octavo

for the Registration, Incorporation, and Regulation of Jointstock Companies, (7 & 8 Vict. c. 110, and 10 & 11 Vict. c. 78), under which Companies with Limited Liability are to be formed. With an

of the Inner Temple, Barrister at Law.

CONTENTS.

I. INTRODUCTION.-1. Liability of Ordinary Partners - Sharing Profits-Provisional Committeemen.-2. Joint-stock Companies at the Common Law, by Charter or Letters-patent, and by Private Act.-3. The Joint-stock Companies Registration Act-Provisional and Complete Registration-Duties, Liabilities, and Powers of Promoters, Shareholders, and Directors-Contracts, Bills of Exchange, &c.-4. Companies with Limited Liability-Whether Certificate conclusive-Execution against Shareholders-Evasion of Limited Liability-Increase of Capital prohibited-Auditor-Dissolution-Winding-up Acts.

II. THE STATUTES, WITH NOTES, &c.-7 & 8 Vict. c. 110; 10 & 11 Vict. c. 78; 18 & 19 Vict. c. 133.-List of Forms for Registration, and Scale of Fees.

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Campbell) was upon the bench he always had this work by him, and no
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No. 76, NEW SERIES.-Vol. II.

No. 1015, OLD SERIES.-Vol. XX.

JUNE 21, 1856.

PRICE 18.

LAW UNION FIRE AND LIFE INSURANCE COMPANY.
CHIEF OFFICES, 45, PALL MALL, LONDON.
CAPITAL, ONE MILLION.

The FIRE and LIFE DEPARTMENTS are under ONE MANAGEMENT, but with SEPARATE FUNDS and ACCOUNTS.

DIRECTORS.

SIR WILLIAM FOSTER, Bart., CHAIRMAN.

JAMES PARKER, Esq., Baddow House, Chelmsford, VICE-CHAIRMAN.

Mr. SERJEANT MANNING, Q.A.S., Serjeants'-inn.
JAMES ALEXANDER DOUGLAS, Esq., Solicitor, 16, Russell-square.
E. SLAUGHTER, Esq., Solicitor, 15, Mansfield-street, Portland-place.
JOHN WOOLLETT, Esq., Barrister-at-Law, 5, Brick-court, Temple.
CHAS. FOSTER, Esq., Lincoln's-inn, and 13, Bruton-street, Berkeley-

square.

JAMES CUDDON, Esq., Conveyancer, Norwich.

CHARLES JOHN WHISHAW, Esq., Solicitor, 3, Gray's-inn-square.
JOHN LAMBERT, Esq., Solicitor, Salisbury.

J. S. BARNES, Esq., Solicitor, Clerk of the Peace, Colchester.
R. J. SISSON, Esq., Solicitor, St. Asaph.

HENRY MASON, Esq., Solicitor, 84, Basinghall-street.

J. MOLYNEUX TAYLOR, Esq., Solicitor, 2, John-street, Bedford-row.
EDWARD BURKITT, Esq., Solicitor, Curriers' Hall, London-wall.
HENRY, MUNSTER, Esq., Barrister-at-Law, 10, Farrer's-buildings,
Temple, and Brighton.

JOHN COLE, Esq., Solicitor, 4. Adelphi-terrace.

CHARLES JOHN PALMER, Esq., Solicitor, Great Yarmouth.
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MEDICAL DIRECTOR.

1

HENRY HANCOCK, Esq., 59, Harley-street, Cavendish-square.

HENRY S. WASBROUGH, Esq., Solicitor, Bristol.
HENRY HEFFILL, Esq., Solicitor, Diss, Norfolk.
JOHN BATTEN, Esq., Solicitor, Yeovil.

HENRY TREMENHEERE JOHNS, Esq., Solicitor, Ringwood,
Hants.

CHARLES GIBSON, Esq., Solicitor, Town Clerk, Saiford.
JOHN F. MARSH, Esq., Solicitor, Town Clerk, Warrington.
JOHN NANSON, Esq., Solicitor, Town Clerk, Carlisle.
JOHN DABBS, Esq., Solicitor, Stamford.

ABRAHAM HOWELL, Esq., Solicitor, Welchpool.
JOHN HOWARD, Esq., Solicitor, Town Clerk, Portsmouth.
FREDERICK THOMAS KEITH, Esq., Solicitor, Norwich.
THOMAS ABDY FELLOWES, Esq., Solicitor, Chippenham.
ERASMUS WILSON, Esq., F.R.S., Henrietta-street, Cavendish-square.
JOSEPH COVERDALE, Esq., Land Agent, Ingatestone-hall, Essex.
VINCENT GOSFORD, Esq., Land Agent, Cheriton, Alresford, Hants.
H. E. MARSH, Esq., Land Agent, 2, Charlotte-row, Mansion-house-
street.

JOHN CHURTON, Esq., Land Agent, Chester.
STANDING COUNSEL.

SOLICITOR.

WILLIAM HAYES, Esq., 4, New-square, Lincoln's-inn.

GEORGE JOHN DURRANT, Esq., 45, Pall Mall.

LONDON BANKERS.

Messrs. BOUVERIE & Co., Haymarket.

FIRE DEPARTMENT.

The terms are in general the same as those of the principal Fire Insurance Offices. The advantages consist in the extent of the capital responsible for losses, namely, 750,000l.; in the business being confined to the best classes of Insurance; IN THE RETURN OF THE DISCOUNT ALLOWED BY THE GOVERNMENT ON THE DUTY; and in the liberality and promptitude with which the business is conducted.

Ordinary Classes of Insurance.

FIRST CLASS.

Premium-Is. 6d. per cent. per annum, (with certain exceptions).
SECOND CLASS.

Premium-28. 6d. per cent. per annum, (with certain exceptions).
No charge will be made for policies when the premium amounts to
six shillings and upwards, nor when transferred from other offices.

THE DISCOUNT ON THE DUTY ALLOWED BY THE GOVERNMENT IS 15 ALL CASES RETURNED TO THE INSURED, the effect of which is to give them a return or bonus, equal to 10%. per cent. annually, on the premiums payable upon FIRST-CLASS risks.

Special risks are not taken by this Company.

A SOLICITOR of standing is REQUIRED in a YOUNG

COUNTRY BANKERS.
Messrs. GURNEY & Co., Norwich.

LIFE DEPARTMENT.

THE LAW UNION INSURANCE COMPANY is based upon a principle which combines the benefits of Mutual Insurance with the guarantee of a Subscribed Capital of 250,0007. sterling, in the Life Insurance Department. Whilst perfect security is thus afforded, the number and character of the shareholders (almost all of whom are members of the Legal Profession) will command a large amount of business, and consequent advantages will arise to the Insured.

The Tables of Premiums have been calculated on the latest Report of the Registrar General, and are as economical as is consistent with safety.

Premiums may be paid annually, half-yearly, or quarterly, in one payment, or in a limited number of payments.

No entrance fees nor appearance before the Board required.
Whole world Policies granted.

Profits divided every five years; and any Bonus declared may be either received in cash, added to the sum insured, or applied to the reduction of the Premiums.

The age of the Insured will, at any time, on satisfactory proof, be admitted on a Policy.

Policies indisputable, except in cases of fraud.

Assignments and transfers of Policies will be registered and acknowledged.

Claims payable in three months after proof of death.

The legal business in connexion with Mortgages may, under judicious regulations, be transacted by Solicitors of known respectability, being shareholders in the Company.

A liberal Commission allowed to Solicitors and Estate Agents.
FRANK M'GEDY, Secretary, 45, Pall Mall.

This day is published, in 1 vol. post 8vo., price 158. cloth,

LIFE ASSURANCE. Capital subscribed large. He will be ex- DAX'S (RICHARD G.) BOOK of COSTS, in confor

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No. 76, VOL. II., NEW SERIES.

mity with the General Scale of Charges allowed on Taxation, and with the Common-law Procedure Acts, 1852 and 1854, and Bills of Exchange Act, 1855.

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KAIN'S SYSTEM of SOLICITOR'S BOOKKEEPING.
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Descriptive Lists of the improved Law Account Books, with prices, may be had on application.

X

CHARLES EDWARD BACK, Tottenham-court-road,
grocer, June 26 at 1, and July 24 at 12, London: Off. Ass.
Bell; Sols. Messrs. Sturt, Gresham-street, City.-Pet. f.
June 11.

21

Black wall, shipbuilder, July 10 at 12, London.-Percival Forbes Jenkins, Compton-street, Brunswick-square, St. Pancras, licensed victualler, July 4 at 1, London.-James Moore, Ardwick, Manchester, livery-stable keeper, July 4 at 12, Manchester.-John Owen, Salford, Lancashire, baker, July 4 at 1, Manchester.-Robert Orrell, Ashton-under-Lyne, Lancashire, chemist, July 4 at 12, Manchester.-Christopher Tuer, Bolton-le-Moors, Lancashire, machine maker, July 8 at 12, Manchester.

TUESDAY, June 17.
BANKRUPTS.

To be granted, unless an appeal be duly entered. Wm. Ashton, Sloane-street, Chelsea, chemist.-Thomas Evans, Wood-street, Cheapside, parasol manufacturer.-S. HENRY JONATHAN HAWKINS, Midway-terrace, Cohen and Joseph Lubliner, Hatton-garden, manufacturing Lower-road, Rotherhithe, dealer in milk, June 20 at 12, goldsmiths.-Thos. Knowles, Seymour-street, Euston-square, and July 28 at half-past 11, London: Off. Ass. Nicholson; chemist.-Wm. Deacon, Boxmoor, Hertfordshire, brewer.Sol. Wright, 123, Chancery-lane.-Pet. f. June 11. Stephen Moore, Liverpool, shipbroker.-Robt. Clark, LiverEDWIN FISHER, Middlesex-place, Hackney-road, oil and pool, miller. -John Coles Fourdrinier, Bush-lane, paper colour man, June 21 at half-past 11, and July 25 at half-maker.-Benjamin Cooper, Frome Selwood, Somersetshire, past 1, London: Off. Ass. Whitmore; Sol. Whittington, and Bradford, Wiltshire, clothier.-Frederick Wm. Emerson, 2, Dean-street, Finsbury-square.-Pet. f. June 10. Trereife Chemical Works, near Penzance, Cornwall, manufac GEORGE NEWMAN DOBSON, Poole, tailor, (carrying turing chemist. on business under the name, style, or designation of Maitland), June 27 and July 25 at 12, London: Off. Ass. Cannan; Sols. Parr, Poole, Dorsetshire; Mardon & Prichard, Christchurch-chambers, Newgate-street.-Pet. f. June 12. MAURICE RICHARDS, Birmingham, grocer, June 27 and July 18 at half-past 11, Birmingham: Off. Ass. Whitmore; Sol. Reece, Birmingham.-Pet. d. June 6. RICHARD GRIFFITH, Pwllheli, but now of Penychain, Abereirch, Carnarvonshire, draper, June 25 and July 17 at 11, Liverpool: Off. Ass. Turner; Sols. Jones, Pwllheli; Evans & Son, Liverpool.-Pet. f. June 2. WILLIAM NORFOLK, Dunkeswick, Yorkshire, tanner, June 27 and July 25 at 11, Leeds: Off. Ass. Young; Sols. Bond & Barwick, Leeds.-Pet. d. and f. June 4. ROBERT SENIOR and STEPHEN SENIOR, Staincliffe, Batley, Yorkshire, blanket manufacturers, July 1 and 28 at 11, Leeds: Off. Ass. Hope; Sols. Watts, Dewsbury; Bond & Barwick, Leeds.-Pet. d. June 3.

MEETINGS.

ALEXANDER PAINE, Croydon, Surrey, innkeeper, June
27 at 2, and July 29 at 12, London: Off. Ass. Lee; Sols.
Ashurst & Co., 6, Old Jewry-chambers.-Pet. f. June 14.
FRANCISCO DE SALVO, Leadenhall-street, merchant,
June 25 at half-past 11, and July 23 at half-past 1, London:
Off. Ass. Stansfeld; Sols. Marten & Co., 31 and 35, Com-
mercial Sale-rooms, Mincing-lane.-Pet. f. June 12.
WILLIAM SMITH and JAMES KIDDER, Church-street,
Shoreditch, grocers, June 27 at 11, and July 25 at 2, London:
Off. Ass. Whitmore; Sol. Pawle, 5, New Inn, Strand.-Pet.
f. June 16.
JAMES CHAPMAN, Balsall Heath, King's Norton, Wor
cestershire, licensed victualler, (now a prisoner in the Gaol
of Warwick), July 2 and 30 at half-past 10, Birmingham:
Off. Ass. Bittleston; Sols. Gartside, Ashton-under-Lyne;
Rawlins & Rowley, Birmingham.-Pet. d. May 30.
ROBERT THOMAS RIPPINGALE, Newark-upon-Trent,
Nottinghamshire, frock manufacturer, July 8 and 22 at
half-past 10, Nottingham: Off. Ass. Harris; Sols. Mot-
WILLIAM ADAMS MANNING, Totnes, Devonshire, dealer
teram & Knight, Birmingham.-Pet. d. June 6.
in corn, June 24 and July 26 at 1, Exeter: Off. Ass. Hirtzel;
SAMUEL POUND the younger, Dartmouth, Devonshire,
Sols. Bishop & Pitts, Exeter.-Pet. f. June 9.
ropemaker, June 24 and July 26 at 1, Exeter: Off. Ass.
Hirtzel; Sols. Edmonds & Sons, Plymouth; Stogdon,
WILLIAM BENSON STOREY, Liverpool, draper, June
Exeter. Pet. f. June 9.
30 and July 21 at 11, Liverpool: Off. Ass. Morgan; Sols.
JOHN STANANOUGHT, Toxteth Park and Liverpool,
Haigh & Thompson, Liverpool.-Pet. f. June 5.
licensed victualler, July 4 and 18 at 11, Liverpool: Off.
Ass. Bird; Sols. Francis & Almond, Liverpool.-Pet. f.

Lewis Pesman Capua, Duke's-place, Aldgate, fruit merchant, June 25 at 2, London, ch. ass.-Charles Long, Kingstreet, Portman-square, house decorator, June 25 at half-past 12, London, last ex.-William Turing Curtis, Great St. Helen's, merchant, June 25 at 11, London, last ex.-George Chamberlain the younger, Crawford-street, St. Marylebone, lead merchant, June 26 at 2, London, aud. ac.-John Dickenson, Cosham, near Portsmouth, licensed victualler, June 24 at 11, London, aud. ac.-Thomas Ryder, Old Broad-street, merchant, July 1 at 1, London, aud. ac.-Robert Lincoln, Tottenham-court-road, licensed victualler, June 25 at 12, London, aud. ac.-Ann Sophia Poile, Great Suffolk-street, Southwark, pawnbroker, June 25 at 12, London, aud. ac.George Pell, Welford, Northamptonshire, scrivener, June 26 at half-past 11, London, aud. ac.-Edmund Folkard, Drurylane, grocer, June 26 at half-past 11, London, aud. ac.; July 4 at 1, div.-Hyams Fienburg, Newport, Monmouthshire, clothier, July 3 at 11, Bristol, aud. ac.—John Douglas, York, tailor, June 26 at 11, Leeds, aud. ac.-George Clark Medd, Leeds, grocer, June 26 at 11, Leeds, aud. ac.-Wm Bennett, Margaret-street, Cavendish-square, victualler, July 7 at 12, London, div.-John Sykes, Little Tower-hill, clothier, July 8 at 12, London, div.-Charles Haselden, Wigmore-st., Cavendish-square, bookseller, July 4 at half-past 12, London, div. -Ralph Darlington, Wigan, Lancashire, money scrivener, July 2 at 12, Manchester, aud. ac.; July 9 at 12, div.-Jas. Paterson, Manchester, tailor, June 25 at 12, Manchester, aud. ac.; July 8 at 12, div.-Wm. Edmond, Bombay, East Indies, and Thomas Edmond, Liverpool, merchants, July 4 at 12, Manchester, div. sep. est. of W. Edmond.-Richard Fox, Moreton-in-the-Marsh, Gloucestershire, ironmonger, July 3 at 11, Bristol, div.-Charles Ogalbe, Plymouth, builder, July 7 at 1, East Stonehouse, div.-Wm. Trebilcock, Ply-ac.-L. H. Meakin and John Farrall, Skelton, Stoke-uponmouth, shoemaker, July 7 at 1, East Stonehouse, div. CERTIFICATES.

To be allowed, unless Cause be shewn to the contrary on or before the Day of Meeting.

Wm. Payne, Jermyn-street, St. James's, wine merchant, July 8 at 12, London.-Charles John Mare, Orchard-yard,

June 12.

MEETINGS.

Edward Davis, Bromley, licensed victualler, June 28 at 12, London, last ex.- -Thomas Kennard, Brooksby-street, Liver pool-road, Islington, and Northampton-place, New Northroad, baker, June 30 at 12, London, last ex.-John Bilton and Wm. M. Wyllie Wemyss, Edwards-terrace, Caledonian-road, linendrapers, July 8 at half-past 1, London, aud. ac.—Wm. O. Young, Sun-court, Cornhill, London, and Manchester and Liverpool, insurance broker, July 8 at 11, London, aud. sc. John Styles, Putney, waterman, July 8 at 1, London, aud.ac. -Chas. Haselden, Wigmore-street, Cavendish-square, bookseller, June 27 at half-past 11, London, aud. ac.-C. Harrison, Liverpool, wine merchant, June 28 at 11, Liverpool, aud.

Trent, Staffordshire, earthenware manufacturers, July 9 at half-past 10, Birmingham, aud. ac.-Wm. Insull, Dudley, Worcestershire, stationer, July 9 at half-past 10, Birmingham, aud. ac.-Joseph Hipkiss, Tipton, Staffordshire, ironmaster, July 9 at half-past 10, Birmingham, aud. ac.-Chas. Doody, [For continuation of Gazette, see p. 287].

entitled, within the meaning of the act, when A. dies after the passing of the act, though in the life of B. The learned writer himself seems not perfectly satisfied with this result, and suggests that it may be maintained, that a third tenant for life under a settlement inter vivos cannot be said with propriety to become beneficially entitled, in any sense, on the death of the first tenant for life, in which case the alternative is, that he becomes beneficially entitled on the execution of the settlement. The view thus put forward merely as an alternative appears the only admissible one. The words become entitled to,' if not restricted to mean 'become entitled in possession to,' must mean the same as acquire an estate or interest in;' and certainly the third tenant for life, or any other existing ascertained person in whose favour a limitation is made, takes an estate or interest when the settlement is executed. person, who when the settlement is executed is not yet born or ascertained, takes an estate or interest when he is born or ascertained; and that is the period at which he becomes entitled. If this be so, no person's title by purchase under a settlement can accrue when another person dies, except in a few cases of comparatively rare occurrence, of which the most familiar is a limitation to the heir of a living person as a purchaser. It follows, then, from the assumption above referred to, that succession duty can hardly ever become payable in respect of any interest taken under a settlement.

A

"This result is much more startling than that at which the able writer in question has arrived; but setting out from his premises, I do not see any possible way of escaping it.

Here we leave the subject in the hands of our readers, hardly venturing to indulge the hope that it will not often be the fate of the Profession to be called upon to unlock acts of Parliament with a "key" as unmanageable as the section we have been considering. We do not know a more striking proof of the apparently almost insuperable difficulties attending the framing of statutes than the fact that the leading clause of one drawn with so much care, and by such able professional men, should give rise to a controversy like the present.

APPELLATE JURISDICTION OF THE HOUSE
OF LORDS.

(Concluded from p. 274).

Lord Lyndhurst.-Unless it is something which passes off in a moment, does not the Lord Chancellor intimate a wish to the counsel that he will suspend his argument?-He does so constantly; the law lords sit on the benches, and any other noble lord who comes in sits down by their side, and naturally enters into conversation with them.

Earl of Derby.-Are you of opinion that there is any effect produced, for good or for evil, by the presence of lay lords in the House, in the event of the law lords not amounting to the number of three?-To those who come in, and know the constitution of the House of Lords, the only effect, I think, is this-it casts a ludicrousness upon the whole proceeding; upon those who are ignorant of the rule it also produces an evil result, because they come in and see what are called the lay lords, one of them probably reading a book, another writing letters; if they happen to sit together, they are conversing; and upon an uninformed spectator the impression would be, that they are not attending to their duty.

known.

Lord Lyndhurst.-Is it not rather an embarrassment to the counsel who are addressing the Court to find & part of the audience not attending to what is going on?-We have discharged ourselves of that impression altogether; and therefore to us they are as so many lay figures.

Lord Brougham.-With respect to the attendance of the law lords before 1850, did not Lord Campbell become Chief Justice in 1850?-I think that was the year.

"But is the above fundamental assumption correct? It may be observed, in the first place, that if the words 'upon the death' were ineant to be read in immediate connexion with become,' the natural mode of framing the clause would have been to insert them earlier in the sentence. If it had run, 'has or shall, upon the death of any person dying after the commencement of this Lord Brougham.-Does not all the world know, exact, become beneficially entitled,' there could not have cept very illiterate persons indeed, that it is the law been any doubt that upon' was meant to refer to the lords who really constitute the court?—I do not think period of the title accruing. But the section is not so that is generally known; nay, it was only very reframed, and, as it stands, the natural construction ap-cently that your Lordships knew it; it is not generally pears to be to read the expression upon the death,' &c. in immediate connexion with the word 'entitled,' which it immediately follows. This appears to be fortified by the consideration, that the words which follow that expression cannot well be read in immediate connexion with 'become,' though they may well be read in connexion with entitled.' It would not be natural to say that a person contingently becomes entitled,' but quite natural to say that he becomes contingently entitled.' This seems to furnish an additional reason for taking the words upon the death' as connected with 'entitled.' Now, such an expression as A. is entitled to Black acre upon the death of B.,' though not felicitous, is not, I think, unintelligible, but is to be understood to mean that A. is entitled to an estate or interest in Blackacre, which is to come into possession on B.'s death. It seems to me, then, that the most natural version of this obscure clause may be expressed thus- Every past or future disposi- Lord Lyndhurst.-Will you have the goodness to tion of property, by reason whereof any person has state a little more fully how you would wish the tribuacquired or shall acquire in any property, or the in-nal to be constituted; you think it should consist of come thereof, a beneficial estate or interest, to come into possession either immediately upon or after an interval following the death of any person dying after the time appointed for the commencement of this act, shall be deemed' &c. At the same time, the clause is so peculiarly worded, that, as an act imposing a tax is to be construed strictly, there does appear some ground for contending that it has failed to attain what was no doubt its object a failure which would have been clearly avoided by framing the clause in the clear and accurate form given by the writer of the article in THE JURIST."

Did not he attend pretty regularly, just as he had done during Lord Lyndhurst's last chancellorship, from 1842 to 1850?-It is exceedingly difficult for me to speak accurately from memory; the impression on my mind is, that he was not so regular in attendance when Lord Cottenham was Chancellor as he was when Lord Lyndhurst was Chancellor; but it is a matter which it is very difficult to recollect.

five learned lords, but how should it be constituted; should they be five hereditary peers?—Individually, I should think there would be no objection to the crea tion of official peerages for that purpose. I should prefer, as far as my judgment extends, to have the tribunal thus constituted the Lord Chancellor at its head, as the great responsible head of the law; four other members bound to attend; if any of the ex-Chancellors will undertake the obligation of permanently and constantly attending, such ex-Chancellor or exChancellors to be one or more of the body of four; but