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Monthly Archives: April 2014

Legal Nature of a Share in a Company?

In Sydney Futures Exchange Ltd v Australian Stock Exchange (1995) 56 FCR 236; (1995) 128 ALR 417; (1995) 16 ACSR 148 Lockhart J, at 255-256 of 56 FCR, 166-167 of 16 ACSR analysed the nature of a share in a company as follows:  “A share is a right to a specified amount of the share […]

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What is an Omnibus Account?

What are some of the key issues relating to securities held by an account provider on behalf of several investors in a single account? The single account in this case is called an “omnibus account”. In practice, client assets are typically held through an omnibus account in the name of the custodian or its nominee, […]

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Legal Principles Governing Pre-Contractual Statements – will they be Promissory or Representational?

Authorities on whether pre-contractual statements are promissory or representational A statement may be on a matter of importance upon which the representee was intended to and did rely without being promissory: J J Savage & Sons Pty Ltd v Blakney [1970] HCA 6; (1970) 119 CLR 435. In that case, the vendor of a boat and […]

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