Pickering v Ilfracombe Rv Co (1868), LR 3 CP 235, 37 LJCP 118, 16 LT 650, 10 WR 458 (Ct of Common Pleas) -- summary under Investment Contract

By dwpv, 28 November, 2015

The defendant company had made a capital call on its shareholders of 5l a share, and assigned that call to the plaintiff as security for an amount which was found in the reasons for judgment to be owing. At issue was the validity of the plaintiff's claim for 1,000l from Lord Poltimore, being the call due upon his 200 shares.

This sum was attachable if it represented a debt due or accruing due from him - even though "the time for payment had not yet arrived" (at p. 247 LR).

Topics and taglines
Topic
Income Tax Act - s. 12(11) - Investment Contract
d7 import status
Drupal 7 entity type
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Drupal 7 entity ID
333771
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