subject to the condition that the Promoters
furmial to the fout JH.K. satisfactory proof
of their frinancial atlitz
13 shown the
or that the condition wafable of performance file Pared
incapable
having regard
to the
I
sto the restrictions on
raising
228
to carry
out the scheme.
咋
2. I would point out, however, that no time limit whatsoever
for the fulfilment thus condition
fised Ste
Leg. Comail
¡
2, +
the agreement,
if the fort proceed to cancel
the Promoters
is no provision there for
KAL
affroned subject G
A
may refly that there
that the agreement
in condition which they
ready a willing to fulfil. The answer to
this would have to be that the resolution of the Leg.
Commeil
mljest to an implied
"implied stipulation that
this condition would be fulfilled in a reasonable
capital.
Advised
2. In the circumstances I ava
if the foot wish to free themselves from the Colutiart;
finio that the best course would be for the
Log. Commail to consider the matter infreal, a
ui éto Ainim
resolve that, as a reasonable time for the
elapsed and
fulfilment of the condition has now
the condition has not been fulfilled, it's
is amable to approve the agreement,
is accordingly not approved. The fout- should;
bles give
notice thereof to the Promoters, addas
that in the circumstances the agreement must be
regarded
time that
reasonable time has now
and that therefore its approval But 9 advised that, even of mach a stipulation could be read into the resolution,
cancelled. I am advised that it
elaped
is rescinded.
is irgmatic that so
long as the condition in
unfulfilled
it s not
certain
Const would find that
the affronal of the agreement &
the Leg. Comail is executory and capable of
being withdrawn.
a reammalle the time hand clapsed bing
{AH}}
I have st
Signed WALITEE E LONG