- Flynote
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Company - Application for preferent shares - Acceptance of - Error
in communication of acceptance - Grant of ordinary shares -- Concluded contact - Liquidation of company- Contributory
- Case summary
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In response to an application for preferent shares in a company the applicant was informed that he had been granted ordinary shares, although as a fact his application had been accepted and he had been granted preferent shares.
There was no evidence that the applicant was aware that his application had been granted or that he had agreed to accept the ordinary shares.
Held, that there was no concluded contract and that the applicant was not liable as a contributory on the liquidation of the company.
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