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WANTED in a Country Office of General Practice, a CLERK, capable of taking the occasional Management in the Absence of the Principal. A Gentleman who has been admitted would be preferred. Salary 100%. Applications, with References, to be addressed to F. E. G., care of Messrs. Stevens & Norton, 26, Bell-yard, Lincoln's Inn.

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AW.-A Young Man of Good Education, who has applied himself to the Study of the Principles of the Law, and particularly those relating to Real Property, and who is at present acting as Managing Clerk, (principally Conveyancing and Chancery), being anxious to increase his income to meet a few exigencies, offers his services to any Equity Draftsman and Conveyancer, or Solicitor desirous of temporary assistance, the advertiser's object being to employ his evenings in a manner productive of present remuneration. Address, Z., at Mr. Smith's, 3, Burton-street, Bond-street.

THE

RAWLINSON'S CORPORATION ACTS. 12mo., price 15s. boards. MUNICIPAL CORPORATION ACT, 5 & 6 Will. 4, c. 76, and the Acts since passed for amending the same, with Notes and References to the Cases thereon; also an Appendix, containing the principal Statutes referred to, including those relating to Mandamus and Quo Warranto; a List of Boroughs having Quarter Sessions; Borough Court Rules, &c. By CHRISTOPHER RAWLINSON, Esq.,

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THE ORDERS of the HIGH COURT of CHANCERY,
from Hilary Term, 1828, to Trinity Term, 1845, as at present ap-
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R. LEVINGE SWIFT, Esq., of the Middle Temple, Barrister at Law.
Owen Richards, Law Bookseller and Publisher, 194, Fleet-street.
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THE LAW of NISI PRIUS, comprising the Declarations,
Pleadings, and Evidence on particular Actions, namely, Bills of
Exchange, Notes, Cheques, &c. Policies of Insurance in all Cases, and
in Ejectment. By JOHN FREDERICK ARCHBOLD, Esq., Barrister
at Law.
Owen Richards, Law Bookseller and Publisher, 194, Fleet-street.
GOLDSMITH'S EQUITY.-THIRD EEITION.
This day is published, in royal 12mo., price 9s. boards,
THE DOCTRINE and PRACTICE of EQUITY; or a
Concise Outline of Proceedings in the High Court of Chancery; de-
signed principally for the Use of Students. By G. GOLDSMITH, A.M.,
of the Middle Temple, Barrister at Law. The Third Edition according
to the last New Orders.
William Benning & Co., Law Booksellers, 43, Fleet-street.

This day is published, in 8vo., price 12s. boards,

of the Middle Temple, Barrister at Law, and Recorder of Portsmouth." A TREATISE on the EFFECT of the CONTRACT of

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Just published.

STORY'S PROMISSORY NOTES.-Commentaries on on Banks and Bankers, with occasional Illustrations from the Commercial Law of the Nations of Continental Europe. By JOSEPH STORY, LL. D., one of the Justices of the Supreme Court of the United States, and Dane Professor of Law in Harvard University. In I vol., royal 8vo., price 17. 5s. boards. Also, by the same Author,

the Law of Promissory Notes, and Guaranties of Notes, and Checks

COMMENTARIES on the LAW of BILLS of EXCHANGE. In 1 vol., royal 8vo., price 11. 48., boards.

A. Maxwell & Son, Law Booksellers and Publishers, 32, Bell-yard, Lincoln's-inn.

A

Will be ready in a few days,

POPULAR and PRACTICAL INTRODUCTION to LAW STUDIES and GUIDE to the LEGAL PROFESSION in all its BRANCHES, Civil, Criminal, and Ecclesiastical; containing Elementary Outlines of the Doctrines and Practice of each, the Duties of their respective Practitioners, and copious Directions for Professional as well as General Education. With an Appendix, containing a careful Selection of the most Characteristic Pleadings and Proceedings in each Department of Equity, Common Law, Conveyancing, and of Criminal and Ecclesiastical Pleading, with Chapters on the State of the Law in Ireland and Scotland. Designed for the use of Students, Junior Practitioners, (whether as Counsel or Solicitors), and the Parents and Friends

SALE on the Legal Rights of Property, and Possession in Goods,
Wares, and Merchandise. By COLIN BLACKBURN, of the Inner
Temple, Esq., Barrister at Law.

William Benning & Co., Law Booksellers, 43, Fleet-street.
Just published, price 12s. boards,

THE STATUTE LAW relating to RAILWAYS.-
This Work contains all the Statutes at Length, including the Joint
stock Companies Registration Act, 7 & 8 Vict. c. 110, with Observations
pointing out its Operation on Railway Companies; also the Companies
Clauses Consolidation Act, 8 Vict. c. 16; the Railway Clauses Consol
dation Act, 8 Vict. c. 17; and the Lands Clauses Consolidation Act,&
Vict. c. 18; with a complete Analysis of their Contents, and a copiou
Index. By W. HODGES, Esq., of the Inner Temple, Barrister.

J Also preparing for Publication by the same Author,
A PRACTICAL TREATISE on the LAW of RAILWAYS.-
CONTENTS:

Procedure of Railway Bills through Parliament.-Standing Orders in
Parliament.-Jurisdiction of the Board of Trade: first, by Parliamentary
Resolutions; secondly, by the Statute Law.-Registration of Companies
under 7 & 8 Vict. c. 110.-Compensation Cases-On Mandamus. On In
junction-Liabilities of Shareholders and Holders of Scrip.-Rating f
Railways. Forms of Pleadings-Reports of Railway Committees; and
all the Statutes.-Forms of Deeds, &c.
S. Sweet, 1, Chancery-lane.

SMITH'S MANUAL OF EQUITY JURISPRUDENCE.
This day is published, in 12mo., price Ss. boards,
MANUAL of EQUITY JURISPRUDENCE, as ad

of those designed for the Legal Profession. By SAMUEL WARREN, A Ministered in England, founded on the Commentaries of Joseph

Esq., F.R.8., of the Inner Temple, Barrister at Law. The above is nominally the second edition of a work published under this title in 1835; but it is in fact altogether a new work, of a more practical and comprehensive character, containing ample explanations of all the changes in the law which have occurred during the last fifteen years, and their direct bearing upon the position and prospects of its practitioners.

A. Maxwell & Son, Law Booksellers and Publishers, 32, Bell-yard, Lincoln's-inn.

SMITH'S CHANCERY.-THIRD EDITION.

Just published, in 2 Vols. 8vo., price 27. 10s. boards,

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A TREATISE on the PRACTICE of the COURT of

CHANCERY, with an Appendix of Forms and Precedents of Costs. To which is added A SUPPLEMENT, containing the Rules, Orders, and Directions for the Regulation of the Practice, pursuant to an Order of Court, dated Sth May, 1845, and shewing the Alterations made by the said Order in the present Practice of the Court of Chancery. By JOHN SIDNEY SMITH, late of the Six Clerks' Office. The Supplement may be had separately, price 1s.

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William Benning & Co., Law Booksellers, 43, Fleet-street.
aldoze ws Just published, 12mo., price 148.,
THE LAW of FIXTURES, with Reference to REAL
To

PROPERTY and CHATTELS of a PERSONAL NATURE.
which is also added, The LAW of DILAPIDATIONS, ECCLESIASTI-
CAL and LAY. By STANDISH GROVE GRADY, Esq., of the Middle
Temple, Barrister at Lawak

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Owen Richards, Law Bookseller and Publisher, 194, Fleet-street

On the 31st will published, 5.,

Story, LL.D., one of the Justices of the Supreme Court of the United
States, and comprising, in a small compass, a numerous collection of
POINTS constantly occurring in CHANCERY and CONVEYANCING,
and in the general practice of a Solicitor. By JOSIAH W. SMITH,
B. C. L., of Lincoln's-inn, Barrister at Law.

"A manual especially adapted to the exigencies of a solicitor's prar tice."-Jurist, No. 465.

V. and R. Stevens & G. S. Norton, Law Booksellers and Publisher,
(Successors to the late J. & W. T. Clarke, of Portugal-street), 26 and 39,
Bell-yard, Lincoln's Inn.
› Of whom may be had, recently published,
FEARNE'S REMAINDERS.-TENTH EDITION.
In 2 Vols. royal 8vo., price 21. 4s. boards,
An ESSAY on the LEARNING of CONTINGENT REMAINDERS
and EXECUTORY DEVISES. By CHARLES FEARNE, Esq., Bar-
rieter at Law, of the Inner Temple. The Tenth Edition, containing the
Notes, Cases, and other Matter added to the former Editions. By
CHARLES BUTLER, Esq., of Lincoln's Inn, Barrister at Law. With
an Original View of Executory Interests in Real and Personal Property
comprising the Points deducible from the Cases stated in the Treatise of
Fearne, as well as Statements of, and the Conclusions from, 300 addi-
tional Modern Cases. Together with References to numerous other
Decisions, and so connected with the Text of Fearne as to form a Body
or Notes thereto. By JOSIAH W. SMITH, B.C.L., of Lincoln's Inn,
Barrister at Law.

drews, Times, March 15, 1845:—
See Vice-Chancellor Knight Bruce's Observations in Andrews v. As-

"His Honor remarked, he had heard it said with some astonishment, that a the Transfer of Property)

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THE LAW REVIEW and QUARTERLY JOURNAL of thould render Mr. Feathe' a Book obsolete. He was not of that opinion;

BRITISH and FOREIGN JURISPRUDENCE. T

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so far from it, that he thought the greater part of it, if not the whole, would still be of the very greatest possible moment to be understood by every Lawyer."

Orders for THE JURIST given to any Newsman, or letter (port paid) sent to the Office, No. 3, CHANCERY-LANE, or to V. and STEVENS & G. 8. NORTON, (Successors to J. & W. T. Clarke, late of Portugal Street), 26 and 39, BELL-YARD, will insure its punctual de livery in London, or its being forwarded on the evening of publication, through the medium of the Post Office, to the Country, da so camel

Printed by WALTER M'DOWALL, PRINTER, residing at No. 4, Pemberton Row, Gough Square, in the Parish of St. Bride, in the City of London, at his Printing Office, situate No. 5, Pemberton Row afore said; and Published at No. 3, CHANCERY LANE, in the Parish of St. Dunstan in the West, in the City of London, by HENRY SWEET, LAW BOOKSELLER and PUBLISHER, residing at No. 11, John Street, Bedford Row, in the County of Middlesex. Saturday, July 26, 1845.

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No. 447-VOL. IX.

AUGUST 2, 1845.

PRICE 18.

** The following are the Names of the Gentlemen who favour THE JURIST with Reports of Cases argued and decided in the several Courts of Law and Equity:

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LONDON, AUGUST 2, 1845.

THE resolutions recently adopted by the members of the Oxford Circuit, respecting the practice of counsel reporting in legal matters for the public press, and the very flippant and ill-judged remarks upon the Bar at large, which those resolutions have drawn from the most prominent representative of the London daily press, bring before the notice of the Profession, so as to render impossible that we should forbear discussing it, the general question of counsel engaging themselves as reporters for the public press.

It has been said in support of the practice, that individuals, of such eminence as to reflect ornament on the Profession, have not thought it derogatory to them as counsel to report for the press. But we believe this not to be the fact. There are many instances, some of them living ones, of persons who have risen to great eminence at the Bar, and who have commenced life as reporters; but we believe that, in most, if not all, of those instances, the reporting has been antecedent to the call to the Bar; and, therefore, they have no weight as precedents one way or the other.

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men at the Bar, without their reputation being thereby tainted. On the other hand, we should probably all consider it derogatory to be even the authorised reporters of a court of requests or of a police court. Again, it is not thought derogatory for gentlemen at the Bar to report legal matters, even though not strictly falling within the definition of authorised reporters, for such works as the humble journal now before the readers of these lines; and we have never heard that Queen's counsel, or any other counsel, had the remotest notion of refusing or disliking to meet a gentleman in consultation, because he had the infinite misfortune to report for THE JURIST or the Law Journal. It is not, then, the being or not being an authorised reporter; it is not reporting the proceedings of a specific class of court, that regulates the propriety or impropriety of reporting. What, then, is it that does govern that question? We apprehend it is the taste of the class of readers to whom the reports are addressed, and the fairness, the learning, and literary talent with which the reports are executed. There are hands that defile all they touch, and there are others that touch but to convert into gold. If there be reporters of the first class, and we doubt that there are any such at the Bar, who pervert their reports, or knowingly permit them to be perverted, to base purposes; or if there be any less blameable, though equally unfortunate, who degrade their profession by putting forth, in the public press, reports deficient in learning, bad in writing, low in taste, the sound inference to be Reporting in itself is, like fifty other occupations, drawn is not that the public press is not fit to be supneither gentlemanlike nor ungentlemanlike; neither plied with reports by counsel, but that the particular peculiarly fitting, nor peculiarly unfitting, for counsel. reporters in default are not fit to be at the Bar. We We all esteem it highly honourable to report as the conclude, in fine, that reporting for the public press has authorised reporters of the House of Lords, the Privy nothing in itself necessarily incompatible with the habits Council, and every other superior court, and reports or feelings of a gentleman; and that its being or not of the decisions of even the Courts of Revising Bar-being a gentlemanlike practice, depends on the standard dhe standard risters have been collected and published by gentle of the readers to whom the reports are addressed, and VOL. IX.

But, in truth, the question is one which appears to us fit to be discussed wholly without reference to specific precedent, and with reference to the present state of the Profession, the present state of the public press, and the general rules that affect the conduct of the Bar.

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the tone of the reports themselves as legal and literary friends who possess what is termed interest, that it productions.

Next let us inquire whether there is anything in reporting for the public press, incompatible with the peculiar functions and etiquettes of the Bar. Now, it must be remembered that the great, almost the only, professional mischief against which the jealous rules of etiquette are directed, is the practice of any the remotest methods of personally, and, apart from the influence of professional reputation, seeking influence with the junior branch of the Profession. It is felt that it is natural to man to seek to ingratiate himself with those who have the distribution of business in the walk of life in which he seeks wealth and advancement. It is equally and rightly felt that the barrister's duties to the public, require him to be personally independent of the favour of those who are his employers; and that he should be retained because, and only because, his talent, his knowledge, and his integrity render his services valuable to his client. Hence, the principle of all our rules of etiquette is, that, though we may do many things to make our intellectual and moral influence felt, we may not, on pain of losing caste, do anything towards obtaining mere personal influence.

Now, with regard to reporting for the public press, does it, if honourably conducted, in any manner militate against the principle of our etiquettes? We are certainly unable to perceive that it does so in any particular. It has not the slightest tendency to form or to extend personal connexion. It does not address itself to the notice of the junior branch of the Profession, so much even as ordinary reporting or book writing. It has no one effect, that we can perceive, towards bringing forward into notice the reporter, beyond such effect as it may have, and that is not much, in making manifest that he has a knowledge of the law, and has some literary capability; in other words, in producing in his favour, quantum valeat, the intellectual influence which it is legitimate for him in fifty other ways to seek.

is a safe enterprise for men possessing such friends to go to the Bar, whether possessed of great abilities and industry or not, sure, if they fail as counsel, to obtain a respectable and lucrative retreat in some of the thousand and one appointments, for which barristers of five or seven years' standing are required. This influence and the influence of nepotism have so crowded the Bar, that, for the man who possesses no friends but his own head and his own strong determination, there is, literally, scarcely a chance, for many years after his call, of purely professional employment. Hence, if there did not exist some such source of occupation as that on which the censure of a portion of the Bar has been recently pronounced, this class of men would be necessarily driven from the Bar. And we would ask, is it for the interest of the public that such men should be deterred from going to the Bar?

But while we think, that, for the reasons we have given, the determination of the Bar of the Oxford Circuit is illadvised, and founded on erroneous views, we are not disposed to acquiesce in the pompous pretensions of the public press to be the patron of the junior Bar. London newspapers have, no doubt, found that it is greatly to their advantage to have good reports of the proceedings of the superior courts; and they have, no doubt, also found, and, if they have not, they speedily will find, that better reports are to be procured with, than without the assistance of gentlemen at the Bar. They greatly mistake, also, if they imagine that they are the principal, or even very material channels through which forensic notoriety is obtained. For the public, which stamps the reputation of barristers, is a very distinct public from that which chiefly draws its draughts of legal learning from the wells of the public journals; and it is not the number of times that a barrister's name appears in their reports that raises his reputation, but the number of times that he is seen and heard in the courts, by those who are attending them upon their own business.

that the indiscriminate and not very polite abuse levelled at the Bar generally, in some recent effusions of the giant journalist, is much more likely to induce counsel to consider the daily press as an unfit vehicle for the reports of gentlemen, and to abstain accordingly from reporting for it, than any resolutions of any Bar mess.

The remaining question is, whether, assuming that We would suggest, therefore, to those advocates of reporting trials at law for the public press is not unbe- the rights and majesty of the press, who appear so fitting junior counsel, either in their general character deeply wounded and incensed by the resolution of the as gentlemen or their special character as counsel, the Bar attending the Oxford Circuit, that, among their present state of the Profession makes it advisable, or other failings, men at the Bar are apt to support each not, that such a source of semi-professional employ-other against the onslaught of any common foe; and ment should be resorted to. And we think that few of the friendless men, the class which, of its own nature, always comprises the most ambitious and energetic spirits at the Bar, the class from which the greatest number of the most greatly distinguished men has sprung, can look at the present state of the Bar, and not rejoice that there is, for the early years of probation, any honourable source of employment open to the briefless and friendless junior, who rejoices in good blood and a strong and patient spirit, but not in 2007. a year of patrimony. The Bar is at present deeply suffering under the double influence of nepotism and commissionerships. In the days when small appointments had no existence, the dangers of a Profession, in which professional failure was absolute destruction, operated as a salutary warning to shut out from its struggles men of mediocrity. But at this day there are so many retreats for the unsuccessful barrister, if he have but

ON PRESUMED ACCEPTANCE OF TRUSTS.

Two cases have been recently decided by Lord Chancellor Sugden under the 1 Will. 4, c. 60, in which the doctrine of presuming the acceptance of trusts has been carried to a great length.

The first is Re Uniacke, (1 Jones & Lat. 1). In that case a person was appointed trustee under a settlement. He did not execute the deed, and never took any steps by way of interference, in the trusts, for twenty-three

years. On an application, by petition under the statute, to appoint a new trustee, the alleged trustee, who was the sole remaining trustee, declining in any manner to act, Sir E. Sugden, C., refused to make any order, on the ground that, after so great a lapse of time, the trustee named must be presumed to have accepted the trusts. His Lordship observed, "It would be most mischievous to grant such applications. It would enable parties, behind the backs of those entitled, to get a fund out of the possession of a trustee, who did not choose to be a party to a breach of trust."

The second case is Re Needham, (1 Jones & Lat. 34). There a testator bequeathed a term of years to one in trust, who never proved the will, or in any manner acted in the trusts for thirty-four years. And on an application to Lord Chancellor Sugden to appoint a new trustee, he held, that acceptance of the trust, by lapse of time without a disclaimer, must be presumed; and appointing a new trustee, his Lordship ordered the trustee originally named to assign the term.

It is clear that, in this case, the legal estate was in the trustee until disclaimer. And if the Lord Chancellor had merely considered him as having the dry legal estate, it is submitted, that he would have ordered him to assign or disclaim, an order which would not have necessarily implied that he was clothed with the trusts; but the order that he should assign, without more, is consistent with the expression, that the court "must presume that he accepted the trust," and shews that the court actually fastened the trust upon the trustee by force of the presumption afforded by lapse of time, and neglect to disclaim.

Assuming these decisions to be good law, the question is, to what, if any, extent the doctrine is applicable to cases of trust generally, as distinguished from the case of a trust presumed merely for the purpose of a petition, under the 1 Will. 4, c. 60.

In the first case, the court did not necessarily decide that the trustee must be presumed to have accepted the trusts, but only that it would not, on petition, decide that he had not. But, in the second, it seems, as we have shewn, to have actually clothed him with the trusts by making a substantive order upon him, incompatible with his being anything else than actual trustee. It seems difficult, therefore, to distinguish this from the general case. On the other hand, it must be observed, that presumption of law being an inference founded on a specific state of circumstances, there may be a difference between presuming acceptance of a trust, on the ground of lapse of time without disclaimer, where the object of the presumption is merely to determine whether a new trustee is, or is not, requisite, and, if he be requisite, to vest in him, beyond the possibility of doubt, the trust estate; and presuming such acceptance generally, where the object is, or may be, to fasten upon alleged trustees the liabilities of implied breaches of trust. The court would be, in the one sort of case, astute to raise the presumption for the benefit of all parties; and in the other it might be, on the contrary, astute to avoid raising a presumption merely for the purpose of fastening a legal liability on a person morally innocent. We leave the difficulty, however, as we find it, to the consideration of our learned readers, regretting only, that a doctrine of so new a kind, and the consequences of which it may not be easy to foresee, should have been laid down.

Correspondence.

GENERAL DEVISE OF TRUST ESTATES.

TO THE EDITOR OF THE JURIST.

Sir, I beg to call your attention to the opinion expressed by the court in Cooke v. Crawford, (13 Sim. last), and to its effect upon the forms now in use in 91), referred to in your Leading Article of the 10th May drawing Wills. It is the custom with many Conveyancers, even in the absence of express instructions, to insert in wills a devise of all trust estates; now, if the opinion above referred to be law, such a devise would, the estate of the testator to the risk of the costs of getting in certain cases, be a breach of trust, and would subject in the legal estate from the devisee in trust. Trusts, implying personal confidence, have hitherto often been created by informal words, not extending to "assigns," and, in practice, the will-maker can rarely refer to all trustee, to ascertain whether, in fact, the trusts are lithe instruments under which the intended testator is mited by apt words, and, if he could do so, the same precaution would not extend to instruments made after the date of the will under which the testator might become trustee. It seems to follow, that the devise of trust estates should be qualified so as to comprehend such estates only, the trusts whereof (as well as the estates themselves) are or may be limited to "assigns."

Statute.

8 VICTORIE.-SESSION 5.

CAP. XVI.

D. B.

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An Act for consolidating in one Act certain Provisions usually inserted in Acts with respect to the Constitution of Companies incorporated for carrying on Undertakings of a public Nature. [8th May, 1845.] incorporated by Acts

Sect. 1. Act to apply to all Companies hereafter to be passed.

2. Interpretations in this Act. "The special Act.” "Prescribed." "The Undertaking."

3. Interpretations in this and the special Act. Number.
Gender. "Lands." "Lease." "Month." "Su-
""" Justice."
County.'

perior Courts." "Oath." "
"Two Justices." "The Company." "Directors."
"Shareholders." "Secretary."

4. Short Title of the Act.

5. Form in which Portions of this Act may be incorporated with other Acts.

Distribution of Capital.

6. Capital to be divided into Shares.

7. Shares to be Personal Estate.

8. Shareholders.

9. Registry of Shareholders.

10. Addresses of Shareholders.

11. Certificates of Shares to be issued to the Shareholders.

12. Certificate to be Evidence.

13. Certificate to be renewed when destroyed.
Transfer of Shares.

14. Transfer of Shares to be by Deed duly stamped.
15. Transfers of Shares to be registered, &c.
16. Transfer not to be made until Calls paid.
17. Closing of Transfer-books.

18. Transmission of Shares by other Means than Trans-
fer to be authenticated by a Declaratian.
19. Proof of Transmission by Marriage, Will, &c.
20. Company not bound to regard Trusts.
Payment of Calls.

21. Subscriptions to be paid when called for. 22. Power to make Calls.

23. Interest to be paid on Calls unpaid.

24. Power to allow Interest on Payment of Subscrip

tions before Call.

25. Enforcement of Calls by Action.

26. Declaration in Action for Calls.

27. Matter to be proved in Action for Calls.

28. Proof of Proprietorship.

Nonpayment of Calls.

29. Forfeiture of Shares for Nonpayment of Calls.

30. Notice of Forfeiture to be given before Declaration thereof.

31. Forfeiture to be confirmed by a general Meeting. 32. Sale of forfeited Shares.

33. Evidence as to Forfeiture of Shares.

34. No more Shares to be sold than sufficient for Payment of Calls.

35. On Payment of Calls before Sale, the forfeited Shares to revert.

Remedies against Shareholders.

36. Execution against Shareholders to the Extent of their Shares in Capital not paid up.

37. Reimbursement of such Shareholders.

Power to borrow Money.

38. Power to borrow Money.

39. Power to re-borrow.

40. Evidence of Authority for borrowing. 41. Mortgages and Bonds to be stamped. 42. Rights of Mortgagees.

43. Application of Calls, notwithstanding Mortgage. 44. Rights of Obligees.

45. Register of Mortgages and Bonds.

46. Transfers of Mortgages and Bonds to be stamped. 47. Transfers of Mortgages and Bonds to be registered. 48. Payment of Interest on Monies borrowed. 49. Transfers of Interest to be stamped.

50. Repayment of Money borrowed at a Time fixed. 51. Repayment of Money borrowed where no Time fixed.

52. Interest to cease on Expiration of Notice to pay off Mortgage or Bond.

53. Arrears of Interest, when to be enforced by Appointment of a Receiver. Arrears of Principal and Interest.

54. Appointment of Receiver.

55. Access to Account-books by Mortgagees.

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Appointment and Rotation of Directors.

81. Number of Directors.

82. Power to vary the Number of Directors.

83. Election of Directors.

84. Existing Directors continued on Failure of Meeting for Election of Directors.

85. Qualification of Directors.

86. Cases in which Office of Director shall become vacant. 87. Shareholder of an incorporated Joint-stock Company not disqualified by reason of Contracts. 88. Rotation of Directors.

89. Supply of occasional Vacancies in Office of Di

rectors.

Powers of Directors.

90. Powers of the Company to be exercised by the Directors.

91. Powers of the Company not to be exercised by the Directors.

Proceedings of Directors.

92. Meetings of Directors.
93. Permanent Chairman of Directors.
94. Occasional Chairman of Directors.

95. Committees of Directors. Powers of Committees. 96. Meetings of Committees.

97. Contracts by Committee or Directors, how to be entered into.

98. Proceedings to be entered in a Book, and to be Evidence.

99. Informalities in Appointment of Directors not to invalidate Proceedings.

100. Directors not to be personally liable. Indemnity of Directors.

Auditors.

101. Election of Auditors.
102. Qualification of Auditors.
103. Rotation of Auditors.

104. Vacancies in Office of Auditor.

105. Failure of Meeting to elect Auditor.

106. Delivery of Balance Sheet, &c. by Directors to Auditors. 107. Duty of Auditors. 108. Powers of Auditors.

Accountability of Officers.

109. Security to be taken from Officers entrusted with Money.

110. Officers to account, on Demand.

111. Summary Remedy against Parties failing to ac

count.

112. Officers refusing to deliver up Documents, &c., to be imprisoned.

113. Where Officer about to abscond, a Warrant may be issued in the first Instance. 114. Sureties not to be discharged.

Accounts.

115. Accounts to be kept.

116. Books to be balanced.

117. Inspection of Accounts by Shareholders at stated Times.

118. Balance Sheet to be produced at the Meeting. 119. Book-keeper to allow Inspection of the Accounts at the appointed Times.

Dividends.

120. Previously to Declaration of Dividends, a Scheme to be prepared.

121. Dividend not to be made so as to reduce Capital. 122. Power to Directors to set apart a Fund for Contin

yencies.

123. Dividend not to be paid unless all Calls paid.

Bye-laws.

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