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pany be registered inadvertently as limited, any creditor or, member of the company will be entitled to an order for winding it up on proof of its registration as limited; and in such a case the members will be liable as in ordinary cases as contributories with unlimited liability for the debts of the company and the costs of winding it up (sect. 17).

The following is the act itself, except the preamble, which recites that it is expedient to amend the law relating to copartnerships and companies carrying on the business of banking, and hereinafter included under the term "banking companies :"

Preliminary.

Sec. 1. Short title.-This act may be cited for all purposes as "The Joint-Stock Banking Companies Act, 1857."

2. Joint-Stock Companies Acts to be incorporated with this, act.-The Joint-Stock Companies Acts, 1856, 1857, shall be deemed to be incorporated with and to form part of this act.

Registration of existing Banking Companies.

3. Sect. 2 of 19 & 20 Vic. c. 47, repecled. The 2nd section of the Joint-Stock Companies Act, 1856, shall be repealed so far as relates to persons associated together for the purpose of banking, subject to this proviso, that no existing or future banking company shall be registered as a limited company.

4. Banking companies required to register under this act.-Every banking company consisting of seven or more persons, and formed under the acts following, or either of them, that is to say—

(1.) An act passed in the eighth year of the reign of her present Majesty, chapter one hundred and thirteen, and intituled "An act to regulate joint-stock banks in England;"

(2.) An act passed in the tenth year of the reign of her present Majesty, chapter ceventy-five, and intituled "An act to regulate joint-stock banks in Scotland and Ireland ;"

shall, on or before the 1st of January, 1858, register itself as a company under this act.

5. Penalty on neglect to register.-If any banking company hereby required to register under this act makes default in registering on or before the said 1st of January, 1858, then, from and after such day, until the day on which such company is registered under this act, the following consequences shall ensue (that is to say):

(1.) The company shall be incapable of suing either at law or in equity, but shall not be incapable of being made a defendant to a suit either at law or in equity:

(2.) No dividend shall be payable to any shareholder in such company:

(3.) Each director or manager of the company shall for each day during which the company is in default incur a penalty of £5, and such penalty may be recovered by any person, whether a shareholder or not in the company, and

be applied by nim to his own use: nevertheless such default shall not render the company so being in default illegal, nor subject it to any penalty or disability, other than as specified in this

section.

6. Banking companies permitted to register under this act.-Any banking company, consisting of seven or more persons, having a capital of fixed amount, and divided into shares also of fixed amount, legally carrying on the business of banking previously to the passing of this act, and not being a company hereby required to be registered, may at any time bereafter, with the assent of a majority of such of its shareholders as may have been present in person, or in cases where proxies are allowed by the regulations of the company, by proxy, at some general meeting summoned for the purpose, register itself as a company other than a limited company under this act, and when so registered all such provisions contained in any act of Parliament, letters patent, or deed of settlement constituting or regulating the company, as are inconsistent with the Joint-Stock Companies Acts, 1856, 1857, or with this act, shall no longer apply to the company so registered; but such registration shall not take away or affect any powers previously enjoyed by such company of banking, issuing notes payable on demand, or of doing any other thing.

7. Existing companies not to pay fees.-No fees shall be payable in respect of the registration under this act of any banking company existing at the time of the passing of this act.

8. Registration under this act not to affect obligations incurred previously to registration.-The registration under this act of any banking company existing at the time of the passing of this act, and hereby required or authorised to be registered, shall not affect cr prejudice the liability of such company to have enforced against it or its right to enforce any debt or obligation incurred, or any contract entered into by, to, with, or on account of such company, previously to such registration, and all such debts, obligations, and contracts shall be binding on the company when so registered, and the other parties thereto, to the same extent as if such registration had not taken place.

9. Saving of liabilities of persons holding shares before registration under act.—Every person who at or previously to the date of the registration under this act of any banking company hereby required or authorised to be registered may have held shares in

such company shall; in the event of the same being wound up by the court or voluntarily, be liable to contribute to the assets of the company the same amount that he would if this act had not been passed have been liable to pay to the company, or for or on account of any debt of the company in pursuance of any action, suit, judgment, or other legal proceeding that might, if this act had not been passed, have been instituted or enforced against himself or the company.

10. Continuation of existing actions and suits.-All' such actions, suits, and other legal proceedings as may at the time of the registration under this act of any company hereby required or authorised to be registered have been commenced by or against such company or the public officer thereof may be continued in the same manner as if such registration had not taken place; nevertheless execution ehall not issue against the effects of any individual shareholder in or member of such company upon any judgment, decree, or order obtained against such company in any action, suit, or proceeding so commenced as aforesaid; but, in the event of the property and effects of the company being insufficient to satisfy such judgment, decree, or order, an order may be obtained for winding up the company in manner directed by the Joint-Stock Companies Acts, 1856, 1857.

Winding up of the Banking Companies.

11. Certain acts not to apply to companies registered under this act or acts incorporated herewith.-The following acts, that is to say,

(1.) The act of the eleventh year of the reign of her present Majesty, chapter forty-five, (2.) The act of the thirteenth year of the reign of her present Majesty, chapter one hundred and eight,

(3.) The act of the eighth year of the reign of her present Majesty, chapter one hundred and eleven, (4.) The act of the ninth year of the reign of her present Majesty, chapter ninety-eight, shall not apply to companies registered under this act or under the acts incorporated herewith or either of them; and all companies so registered shall be wound up in manner directed by the said incorporated acts.

Repeal.

12. 7 & 8 Vic. c. 113, and 9 & 10 Vic. c. 75, repealed. The above-mentioned acts, that is to say,— The said act passed in the eighth year of the reign of her present Majesty, chapter one hundred and thirteen, and

The said act passed in the tenth year of the reign of her present Majesty, chapter seventy-five, shall forthwith be repealed as respects any banking company to be formed hereafter, and shall, from and

after such time as any company formed in pursuance of such acts or either of them may have registered as a company under this act, but not before, be repealed as respects the company so registered; and the articles of table B. in the schedule annexed to the Joint-Stock Companies Act, 1856, relating to "shares," to "transmission of shares," and to "forfeiture of shares," and numbered from one to nineteen, both inclusive, shall, from and after such time as last aforesaid, but subject to the power of alteration conferred by the Joint-Stock Companies Acts, 1856, 1857, be deemed to be regulations of any company formed in pursuance of the said acts passed in the eighth and tenth years of her present Majesty; nevertheless such repeal shall not affect any penalty, forfeiture, or other punishment incurred or to be incurred in respect of any offence against any acts hereby repealed committed before such repeal comes into operation; and notwithstanding anything contained in the said act of the eighth year of the reign of her present Majesty, chapter one hundred and thirteen, or in any other act, it shall be lawful for any number of persons, not exceeding ten, to carry on in partnership the business of banking in the same manner and upon the same conditions in all respects as any company, if not more than six persons, could before the passing of this act have carried on such business.

Formation of new Banking Companies.

13. New banking companies.-Seven or more persons associated for the purpose of banking may register themselves under this act as a company other than a limited company, subject to this condition, that the shares into which the capital of the company is divided shall not be of less amount than £100 each; but not more than ten persons shall after the passing of this act, unless registered as a company under this act, form themselves into a partuership for the purpose of banking, or if so formed carry on the business of banking.

Examination of Affairs in Company.

14. One-third in number and value of shareholders to apply for inspectors.-No appointment of inspectors to examine into the affairs of any banking shall be made by the Board of Trade, in company pursuance of the Joint-Stock Companies Act, 1856, except upon the application of one-third at the least in number and value of the shareholders in such company.

Nineteenth Section of Joint-Stock Companies Act
not to apply.

15. Sec. 19 of 19 & 20 Vic. c. 47, not applicable to companies in Scotland.—The nineteenth section of the Joint-Stock Companies Act, 1856, shall not apply

to any banking company in Scotland registered under this act.

Transfer of Trust Property.

16. Transfer of trust property to company.—All such estate or interest in real and personal property in England and Ireland, and in property, heritable and moveable, in Scotland, and all such deeds, bonds, obligations, and rights as may belong to or be vested in any person or persons in trust for any banking company at the date of its registration under this act, or in trust for any other company at the date of its registration under the Joint-Stock Companies Acts, 1856, 1857, shall immediately on registration vest in such banking or other company; but no merger shall take place of any estates by reason of their uniting in the company under this section, without the express consent of the company, certified by some instrument under their common seal.

Banking Companies not registered as such.

17. Liability of banking company that is not registered as such.-If, through inadvertence or otherwise, a company that is in fact a banking company has, previously to the passing of this act, been registered as a limited company under the Joint-Stock Companies Act, 1856, or if, through inadvertence or otherwise, a company that is in fact a banking company is hereafter registered under the said JointStock Companies Acts, 1856, 1857, as a limited company, any company so registered shall not be illegal, nor shall the registration thereof be invalid, but it shall be subject to the following liabilities; that is to say,

(1.) Any creditor or member of the company may petition the court to have it wound up, and the fact of its being registered as a limited company shall of itself be a sufficient circumstance on which an order shall be made for winding up the same:

(2.) In the event of such company being wound up, the contributories shall, whether the company is or not registered as a limited company, be liable to contribute to the assets of the company to an amount sufficient to pay its debts, and the costs, charges, and expenses of winding up the same. Saving Clauses.

18. Exemption of certain existing banking companies from Joint-Stock Companies Acts.-The Joint-Stock Companies Acts, 1856, 1857, shall not apply to any banking company legally carrying on the business of banking previously to the passing of this act, and not hereby required to be registered, until such time as such company registers itself under this act, in pursuance of the power hereby given in that behalf.

19. Not to affect provisions of 78 8 Vic. c. 32, and 89 Vic. c. 38.-Nothing herein contained shall affect an act passed in the eighth year of the reign of her present Majesty, and intituled "An act to regulate the issue of bank notes, and for giving to the Governor and Company of the Bank of England certain privileges for a limited period," or an act passed in the ninth year of the reign of her present Majesty, chapter thirty-eight, intituled "An act to regulate the issue of bank notes in Scotland," or any other act_relating to the issue or circulation of bank notes.

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I. State some of the principal acts of Parliament affecting the common law which have been passed during the last five years. II. State the nature and requisites of a contract not under seal. III. State some of the maxims by which contracts are expounded. IV. What will constitute a partnership with regard to third parties? V. What is the meaning of stoppage in transitu, and what is the point to be considered with reference to the exercise of such right? VI. What is necessary in order to enable a person to set off a debt against another sought to be recovered? VII. What course should you adopt in order to be able to proceed with your action, where personal service of the writ of summons cannot be effected? VIII. In what cases may the writ contain a special indorsement of the plaintiff's claim? IX. What is the effect of a special indorsement in the event of no appearance being entered on the part of a defendant? X. What is necessary to constitute a good plea of tender, and how may such tender be avoided? XI. Within what time must a motion be made for a new trial, where a cause has been tried at the assizes? What must be done in order that a judgment of the superior courts may be made to affect the lands or tenements of the judgment debtor, and how often must the operation be renewed? XIII. What will preclude a person from making an application to set aside process for irregularity? XIV. A creditor,

XII.

having obtained a judgment against a debtor, dies. What is required to be done by his executor, in order that he may be in a position to attach a debt due to the judgment debtor, with a view to satisfy the judgment recovered by his testator? XV. Does the Statute of Limitations apply where a debtor was abroad when the cause of action accrued, and who has not returned to this country, and if not, within what time may the action be commenced?

III. CONVEYANCING.

I. Who is the proper party to present to a vacant benefice, the mortgagor or mortgagee of the advowson? Have you any reason for your opinion? II. State the principal provisions of the Settled Estates Act, 19 & 20 Vic. c. 120. III. What is necessary to effect an exchange of lands under the General Inclosure Act? IV. Who are the proper parties to assign a lease of a deceased testator, who bequeathed it specifically, and why? V. A. devises bis farm at B. to C. without any words of limitation-what estate would C. take if the testator died. in 1801; what if he died in 1857, and why? VI. What are the duties of the solicitor in comparing an abstract of title with the deeds, &c.? VII. Can a married woman dispose of a reversionary interest in a sum of money; and has the law as to this been changed, and in what respects? VIII. A. dies intestate, and without issue, leaving a widow, mother, and brothers -what interest do they take in his real, and what in his personal estate? IX. Can the omission by a lessee to perform a covenant to insure, to repair, or pay rent, be cured, and how? X. What is the object of taking assignments of outstanding terms? Is it ever desirable to do so now, and why? XI. In what case prior to 8 & 9 Vic. c. 106, was a feoffment necessary, and why? XII. Is it necessary to register wills relating to property in a register county? And state the reasons why it is, or is not, necessary? XIII. A copyholder dies, having devised all his estates to B., with power to trustees to sell the copyholds. The trustees sell at once. By what instrument should they convey the copyholds, and what fine will be due to the lord, and by whom paid? XIV. Is the assignee of a lease ever, and when, liable as between him and the lessor, to the rent and covenants? XV. What is the protector of a settlement, what the origin of the office, and what his powers?

IV. EQUITY AND PRACTICE OF THE COURTS. I. Define the technical meaning of equity as contradistinguished from its general or ordinary meaning. II. State the origin of the equitable jurisdiction of the Court of Chancery. III. Before the jurisdiction of the court was settled, what were the

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limits placed to its power? Mention some of the cases from the year books in which its interposition was applied for, by way of illustration. IV. Could a judgment obtained by fraud at common law be then set aside in equity? How was this settled in 1616, and by whom, and on what occasion? V. Who were the distinguished chancellors who subsequently reduced the system into order, and to whom above al is the greatest share of merit ascribed in this respect? VI. The modern system of equity established state in what respect the maxim Equites sequitur legem" is the rule, with any, and what, exception. VII. In what cases has equity jurisdiction, exclusive of the common law? VIII. In what cases has it concurrent jurisdiction? IX. In what cases is it auxiliary to the common law? X. And with what latitude does equity construe statute law? XI. What is the distinction between the judicial and the administrative jurisdiction of the court? Name the officers who preside over each branch. XII. Of what courts are the appellate jurisdiction composed? Set forth the various steps from the first decree of a Vice-Chancellor to the highest court of appeal in the realm. XIII. How and when did the House of Lords gain the power of sitting as the highest court of appeal? XIV. Describe the mode of instituting a suit, suppose-for the specific performance of a contract for the sale of real estate and the process, step by step, down to the final decree, and the mode in which it is to be enforced. N.B.-You are expected to answer with particularity. XV. Can a court of equity permit the tenant for life of an estate who is impeachable for waste to commit waste; and will it permit a tenant, whether so impeachable or not, to grant a lease for a longer period than twenty-one years, or the life of such tenant? If so, state under what circumstances, and by what authority, it has such power.

V. BANKRUPTCY AND PRACTICE OF THE COURTS.

I. Enumerate the different acts of bankruptcy. II. In what cases may articles of merchandise be sold without subjecting the vendor to the bankrupt laws? III. What are the acts of bankruptcy which a trader may voluntarily commit, and what the acts which he may be compelled to commit? IV. After what lapse of time from an act of bankruptcy committed does a trader cease to be liable to be made a bankrupt on that act of bankruptcy? V. What are the requisites to support a petition by a creditor for an adjudication in bankruptcy? VI. What is the course of proceeding to obtain adjudication against a joint-stock company? VII. What is the consequence of a person becoming bankrupt a second time? VIII. In what respect does a debt upon

which an adjudication will be supported differ from a debt which may be proved under the bankruptcy? IX. How does the debt of a petitioning creditor differ from a debt proveable under the adjudication? X. What is the rule as to proof by separate creditors under a joint adjudication, and vice versâ? XI. Is a surety for the bankrupt entitled to prove under the adjudication in any, and what cases? XII. How are creditors' assignees chosen? XIII. In what manner, and at what time, does the estate of a bankrupt become vested in his assignees? XIV. Is there any, and what, property in the bankrupt's possession or control at the time of his bankruptcy which will not pass to his assignees? XV. If a trader make an assignment of a policy of assurance on his life, would you give notice of such an assignment? And if so, to whom, and for what reason? VI. CRIMINAL LAW AND PROCEEDINGS BEFORE MAGISTRATES.

I. Name, the several courts in England having jurisdiction in criminal matters, and state in which of them this jurisdiction is limited, and to what extent? II. Detail the several steps to be taken in a criminal prosecution, from the caption of the accused by the police, to his sentence; and supposing the accused to be an alien, what is his privilege as regards the jury upon his trial? III. What is high treason? and give some instances of the offence, IV. Name the several crimes comprehended in the term "homicide," and give a definition of each of such crimes. V. In an indictment for murder, is it necessary to describe the instrument with which, and the manner in which, the murder was committed? VI. Distinguish the punishment attaching to the several kinds of homicide which are punishable. VII. Define the crime of burglary, and state what evidence is necessary to support an indictment for that offence. VIII. What is meant by breaking and entering a building within the curtilage of a dwellinghouse? IX. Define the offence of forgery and uttering forged documents. X. Define the offence of embezzlement, and give an instance distinguishing the offence from common larceny. XI. What are the essential proofs to sustain an indictment for receiving stolen goods? XII. Define the offence of perjury. Is it a felony or a misdemeanor? And by how many witnesses must the offence be proved? XIII. Upon an indictment for obtaining money or goods by false pretences, what is the nature of the false representation that must be proved? and give an instance. XIV. State shortly the several provisions of the statute 20 & 21 Vic. c. 54, for making better provision for the punishment of frauds by trustees and others. XV. What is a criminal information? And state by what court, and under what circumstances, leave is given to file the same.

EXAMINATION ANSWERS.

(Michaelmas Term, 1857.)

CONVEYANCING (ante, p. 194).

I. Mortgage of advowson.-The mortgagor of an advowson has a right to nominate to the living on a vacancy, and even to compel the mortgagee to present his nominee, although there be an actual engagement between them that the mortgagee shall, after default made, have the right to present (see Jory v. Cox, Prec. Ch. 71; Galley v. Selby, Strange 403; Mackenzie v. Robinson, 3 Atkyns, 559). The ground of this doctrine is that in equity the mortgagor remains the actual owner of the estate (see Francis Max. max. 13; Casborne v. Scarfe, 1 Atk. 602). Or, perhaps, rather that the presentation is not a profit for which the mortgagee can give credit in account upon a redemption (Crabb's Real Prop. Dig. sects. 22, 39; see Coote's Mortg. pp. 33, 202, 3rd. edit.). A mortgage of an advowson should always include a power of sale, and be made in fee.

II. Settled Estates Act.-The Settled Estates Act, the 19 & 20 Vic. c. 120, has for its object to enable the Court of Chancery to authorise leases and sales of settled estates where the same shall be deemed proper and consistent, with a due regard for the interests of all the parties entitled under the instrument limiting the property. The application to the court must be by petition by the tenant for life, with the concurrence or consent of the trustees, having any estate for the benefit of any unborn child (s. 17), or without such consent, where the rights of the parties are not to be affected (s. 18). Notice of the application must be given to the trustees, and be inserted in certain newspapers. After the presentation of the petition, application is made in the judge's chambers, exparte, for directions as to the notices in the newspapers. Within twenty-one days after the publication of the last advertisement, the petition is set down for hearing (3 Law Chron. 169). The act also enables persons in possession of land for certain limited interests to grant agricultural or occupation leases thereof, at rack-rent, for a reasonable period (3 Law Chron. pp. 105, 111, 196, 209, 214, 286; ante, p. 48).

III. Exchange under the Inclosure Act.-In order to effect an exchange under the General Inclosure Act (the 41 Geo. 3, c. 109), the consent in writing of the persons seised of the lands, &c., in the parish or manor in which an inclosure is to take place must be obtained; where the parties are under disabilities, the consent of their husbands, guardians, &c., will suffice. The exchanges must be specified in the award, and then they become effectual (Burt. pl. 1154; 1 Prest. Abstr. 161). As to exchanges where

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