The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

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Monograph

Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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APPENDIX OP CASES. 205 there enumerated all relate to matters of a comparatively small amount, and are of the character I have mentioned, and the general words must he construed by reference to ■the particular terms which precede them, and must be taken to refer to matters ejnsdem generis with them. But we have had presented to our attention the case of Walker v. Giles, 6 C. B. 662 (a), followed by other cases, in which it was held that the words of the corresponding section of the earlier Act applied to mortgages made to the society by strangers, and were not confined to mortgages by their own members. In that Act, however, the words “nor other security” occurred after the word “bond,” and it is possible, and I am far from thinking it improbable, that those words were omitted by the legislature in consequence of the decision in that case. What the legislature meant was to exempt transactions relating to small sums, and to official ■acts and the conduct of internal business ; they therefore left out the words “ nor other security ” for the purpose of confining the exemption to bonds, and to such bonds as are required in the administration of the society’s affairs. If the transfer of a mortgage to the society is exempt, it is impossible to exclude from the exemption the case of an original mortgage to them, where by universal usage the duty with other cost of conveyance is to be paid not by them but by the mortgagor. It is impossible without clear words to suppose that the legislature can have done anything so mischievous or so contrary to equity as to extend exceptional privileges, not only to the society, but to all those that deal with it. We must therefore either read the words as applicable only to cases where by usage or under the contract the society would have to pay the duty, for which, however, there is no authority, no such limitation being expressed in the Act, or we must read the section as referring to acts, such as a power of attorney, which bring into exist ence or create the possibility of negotiation, acts which are in a manner exclusively the acts of the society, or of its officers and members in their relation to it and to one another. Martin, B.—I am of the same opinion. It is obvious both from 13 Geo. 4, c. 56, and 18 & 19 Viet. c. 63, that the object of the legislature was to relieve these societies and («) This case related to a Benefit Building Society under 6 & 7 Will. 4, c. 32.

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