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BRICONOS
extent
285
ciples of an eye for an eye and a tooth for a tooth have been proved
totally inapplicable to commercial communities, and all the laws of
commerce from those of Hammurabi, King of Babylon, who died some 2,000
before the Christian era, down to modern times have always re- years cognised that it was better for the state that a debtor should escape to a certain, from his obligations rather than he should be handed over
and ruined by his creditors. But different nations have different ways
of dealing with it. In the case of the associations there are four ways,
two of which exist in the law of the Colony at the present moment.
Those two are the two extremes. In between them is the French method.
of the limited At one extreme we have the principle liability company under which the
shareholder of a fully subscribed company is inviolate. We cannot touch
his private property at all, even when the company fails. At the other
extreme we have our ordinary partnership law, which enables us to take
the whole of a partner's private property to satisfy a partnership debt,
In between comes the French system, the associations en commanditë, in
hich there is a general partner who is responsible for all the debts
of the firm and limited partners whose liability is limited. In between
also we have the Chinese system in which there is no general partner,
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.baviera nisya aaw I9JJAN
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and in which the liability of every partner is limited to the extent of
his interest in the firm. As your Excellency said on the first reading
-nt enivib yna gnimialo Juonti *.betiqani-neve9d" B1ow ji aaefnu Jf this Bill the question has been considered ever since 1674. In 1900
«ijosnq # biotta IIEW JE 910d IIita ow IIIя Ja9a91q or rot nolis committee finally reported on it, and as a result of their report the
question was shelved, and probably but for an accident it would have
een shelved for a very much longer time. The accident was this. In the
ear 1907 the French system was introduced in England, so that sleeping partners, could get by registration, the benefit of the French Law as
o associations en commandite. Two years later, about September, 1909,
he acting Attorney General at the time asked me if I would draft for
an Ordinance on the lines of that act. It was unnecessary for me to
ee any papers to do that. I had the Act in my own library, and I draftéz
Bill. That Bill went through the usual channels and eventually came efore the Chinese Commercial Union. That body did not know that it was
attempt to bring into force in this Colony the French law which had
at oinordo need aan doidw y‡ fubilib s ovomx bne alsad gnidrow Iss -awo zaeniard exenido Jant oa (aïssy to Todmun SITSI » Tot ynofo) aidi @Iɗmoitosıq mi jị Ba xat oa wal ed‡ to noltonsa eit avisosi naɔ a -Ittib to flut oa Tsjjam a ni Jduch of .bluoda vedð tædt sidsatyba ajoeleb am jud,noisclonoo fanit a ja sono da ovitza don Ilada sw vil -osve Illw begod al 31 doldw bobuloni od naɔ ɑtnembneme asvisamanj wol need arsey nevsa-yðriN) 19VO Tot aar dɔidw y‡luottìih sɗt avioa vil (śuum£#ga) .ynolo? eft nk stadab to jos įdua
.emit jazit a bası 8## [[iƐ ofT DoKláns III and to gnibaen broosa sɗt bevom Istoned yamtoOJJA SAT
Josits evig of bne aqiderontrel berstatysf dailɗojas of sonanìb10 -ning ent -bisa efoe gntob ni",amojavɔ qinazentræ¶ casninɔ niste ready with modifications been introduced into England. They thought