The Law And Practice of the Stock Exchange: With Appendices Containing the ...

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The Law And Practice of the Stock Exchange: With Appendices Containing the ...
B E Spencer Bernard Edward Spencer Brodhurst
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Homersham (1878), 4 Ex. D. 24 ; 48 L. J. Ex. 79 ; 39 L.T. 671 ; 27 W.R. 171.
» Rules 107. 126.
* Stetcart v. Luptan (1874), 22 W.R. 855.
» Beekitt v. Bilbrough (1850), 8 Hare, p. 188.
* Paine v. HtUckintan (1868), L.R. 3 Ch. 388; 37 L.J. Ch. 485; 18 L.T. 380; 16 W.R. 553. An acceptance by the purchaser's brokers on his behalf is sufficient to bind him. Boicring v. Sfiepherd (1871), L.R.
6 Q.B. 309; 40 L.J. Q.B. 129; 24 L.T. 721 ; 19 W.R. 852.
BIGHTS OF THE PASTIES UNDEE THE CONTRA CT. 151 he ha
...d completed the contraot, and had been obh'ged to indemnify the vendor.
The Stamp Act, 1815,^ reqnires that the amount of consideration inserted in the transfer, and on which the duty payable is calculated, shall be the sum paid by the ultimate purchaser. It is evident that this sum may be either higher or lower than that actually received by the vendor. A note is generally appended to the transfer, explaining this apparent discrepancy, and the vendor is not, in that case, justified in refusing to sign the transfer on the ground that he would thereby be admitting the receipt of a larger sum than he has in fact received.


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