power to order such contributory to be arrested, and his property to be seized; and

CONCEALMENT.

8165. Power of Seizure.-If a contributory is proved to have concealed or endeavoured to conceal his property, with a view to evading calls, the Court has power to order his arrest, and the disposal of his books, papers, money, and other property, for any time and in any way that it may think fit.

TERMINATION OF WINDING UP.

8166. Two Ways.-The winding up of a company may come to an end in two ways: either,

8167. Creditors all Paid.-When the creditors are all paid; or, otherwise,

8168. Capital all Gone.-When the capital of the company (if limited) is all exhausted.

BALANCES.

8169. Returnable to Contributories.-When all creditors under a winding up are paid in full, and all costs met, and any balance remains, such balance is returnable to the contributories in propor tion to their respective shares of contribution; and

CREDITORS.

8170. Dividends Only.-When a winding up has resulted in the calling up of all the capital of the company (if limited) after all costs are paid, the creditors, if not paid in full, must rest content with such dividend upon their claims as the balance will afford, just as if the company had been an insolvent individual creditor, deceased.

8171. Arrangements. By "The Joint Stock Companies Arrangement Act, 1870,” it is provided that :—

Where any compromise or arrangement shall be proposed between a company which is, at the time of the passing of this Act, or afterwards, in the course of being wound up, either voluntarily or by or under the supervision of the Court, under the Companies Acts, 1862 and 1867, or either of them, and the creditors of such company, or any class of such creditors, it shall be lawful for the Court, in addition to any other of its powers, on the application in a summary way of any creditor or the liquidator, to order that a meeting of such creditors or class of creditors shall be summoned in such manner as the Court shall direct, and if a majority in number representing three-fourths in value of such creditors or class of creditors present either in person or by proxy at such meeting shall agree to any arrangement or compromise, such arrangement or compromise shall, if sanctioned by an order of the Court, be binding on all such creditors or class of creditors, as the case may be, and also on the liquidator and contributories of the said company.

FINAL ACCOUNT.

8172. As soon as the winding up of a company is completed, it is the duty of the liquidator to make up a complete account, showing the manner in which such winding up has been conducted, and the property of the company disposed of.

UNDER THE COURT.

8173. Submission of Account.-When the winding up of a company has been under the Court, the official liquidator is required to lay his final account before the Court; and

DISSOLUTION.

8174. Dissolving Order.-The Court, upon exhibition of the final account of a wound-up company, is required to make an order that the company is thenceforth dissolved, and the company is then dissolved accordingly.

UNDER VOLUNTARY PROCEEDINGS.

8175. Submission of Account.-When the winding up of a company is voluntary, it is the duty of the liquidator to submit his final account to a general meeting of the contributories; and

8176. Advertisement of Meeting.-Every meeting of contribu tories for the final dissolution of a company must be advertised by the liquidator in the London Gazette at least one month previously to such meeting.

8177. Three Months' Grace.-When a voluntary liquidator has submitted his final account to a general meeting, duly advertised (8176), the company becomes finally dissolved in three months after such meeting has been duly registered (8178).

RETURN TO REGISTRAR.

8178. Of Final Meeting.—As soon as a meeting for the final winding up of a company has been duly held (8177), the liquidator is bound to make a return of such meeting, and the particulars thereof, to the Registrar of Joint Stock Companies (7413); or,

8179. Of Order of Court.-As soon as an order of the Court (8174) has been made for the final winding up of a company, the official liquidator is bound to make a return of such order to the registrar (7413).

8180. Penalty.-When a meeting has been held, or an order made, for the final winding up of a company, the liquidator, in either case, is liable to a penalty of £5 per day for every day during

which he neglects to make a return to the registrar of such meeting or order.

DISPOSAL OF BOOKS.

8181. Under Order of Court.-When the dissolution of a company is by order of the Court (8173), the books relating to the business of such company must be deposited in the Record and Writ Clerks' Office of the Court.

8182. Under General Meeting.-When a company is dissolved by a general meeting (8177), the books relating to the business are required to be deposited as such meeting may direct, provided always that,

LIMITATION OF TIME.

8183. Five Years.—After the lapse of five years from the dissolution of a company it is expressly provided by the Act that no responsibility shall rest on any one to whom the custody of its books, accounts, and documents has been committed, by reason that the same or any of them cannot be forthcoming.

COSTS.

8184. All costs, charges, and expenses properly incurred in winding up a company are payable out of the assets of the company, in priority to all other claims, the liquidator standing first (7984).

INDUSTRIAL AND PROVIDENT SOCIETIES.

8185. Since the passing of the various Acts for the incorporation and limitation of companies by registration, the laws relating to industrial and provident societies have diminished in importance, and need not be dealt with here; for, .

8186. Provisions Superseded.-There is no society under the Provident Societies Acts that cannot be equally well carried on under the present revised law of joint stock companies, which law has, in fact, for the most part, superseded the Provident Societies Acts; so that,

8187. Prospectively Obsolete.-For all practical prospective purposes the peculiar laws relating to friendly societies may be considered obsolete.

MINING COMPANIES.

PECULIAR JURISDICTION.

8188. The jurisdiction of the Stannaries has the conduct of all legal business relating to mining companies, both with reference to their working and winding up.

THE STANNARIES.

8189. The application of the principles and powers of the Court of Stannaries is a matter too special to be dealt with fully in a popular book. It suffices here to say that all persons, before entering upon business relating to mines, either as individuals or as members of companies, should make a point of studying the law relating to the Stannaries.

LANDLORD AND TENANT.

INTRODUCTION.

DEFINITIONS.

8190. In Contemplation of Law. Reference to the law of property (99) will show that every holder of land or house, whether as freeholder or not, is, in contemplation of law, a tenant under some individual, or under the Crown; but,

8191. Tenants in Popular Acceptation. The popular acceptation of the term "tenant" means the occupier, for the time being, of land or house for which he pays rent to some other person; and

8192. Landlords in Popular Acceptation.-A "landlord," in common phraseology, is the freeholder or other holder of land or house who is entitled to exact from the occupier, for the time being, a periodical payment in the nature of rent.

8193. Important to Everyone.-As almost every person is some time during his life either a landlord or a tenant, it becomes of much importance that the law, with reference to the relationship of the two respectively, should be universally known and understood.

CREATION. OF TENANCIES.

8194. Enumeration. The relationship of landlord and tenant may arise in the ollowing various forms :—

8195. On sufferance (8203);

8196. At will (8207);

8197. Weekly (8252);

8198. Monthly (8255);