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 COMPANY LAW
PERSPECTIVES

Quilter 3e [Link] 1 24/01/2017 10:49 am

 viii   Company Law Perspectives

a text) you are already some of the way towards the skill you will actually need
in the exam. Make your notes short and use simple language.

Exam technique
To identify issues in the exam, underline or highlight relevant parts of the
question. Keep referring back to the question. Exams are the opportunity
for you to show that you know something (content) and that you can use it
(application to the facts of the question). Your content must be clear so that
it can be easily used (too much information can be hard to sort in the tense
atmosphere of an exam). No exam will require you to know or write everything
that was covered in the unit; in fact you will probably include, or have to
consider, only a very small selection of the cases, the readings, or the sections,
in your answers. So aim to be clear on the essential aspects of each topic to be
examined, use these essential aspects to help you break down the question and
then deal with the issues as fully as you can in the time allowed.
For example, consider a question requiring a written answer about a member
(shareholder) of a profitable company who claimed that their personal rights
were being infringed because the board of directors paid themselves high
bonuses but never paid a dividend to shareholders. The essential law to apply
would include: ss 232 (oppression) and 233 (orders that can be made by the
court) of the Corporations Act; reference to cases such as Wayde v NSW Rugby
League Ltd and Sanford v Sanford Courier Service Pty Ltd; and consideration
of issues of oppression and the reasonableness of the board’s decision. This
content (law) would then be applied (used) to discuss the facts of the question.
For example, you would discuss what the board did, how it came to its
decision, what factors affected its decision, and then comment on whether,
in all of the circumstances of the question, the board’s decision was one that
a reasonable (fair-minded) board could have arrived at. Obviously an answer
would require more than merely a series of prompts such as those above but
your results will be maximised if you can isolate as many of the issues in a
question as possible.
Having clear content will make it easier to see what you are looking for.
Whereas knowing the law is an important part of responding to examination
questions the main part of answering problem-style questions is applying the
law to the question. Your answer must show that you are dealing with the
question not merely writing what you have learnt.
Your answers are the end product of a lot of work, and are often very
important in your assessment and, therefore, your career. Make them look
important, it will help you structure them and help markers see what you can
do. Use underlining, highlighting or capitals to identify the essential elements
of your answer.
Keep in mind your purpose—a clear and ordered answer showing the
marker that you know some company law and that you can apply it to the
questions asked.

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 Learning  ix

Get to the point of the question, do not generalise, do not write what you
have learnt if it is not relevant. Remember, it is a question; you are supposed
to be answering it, not avoiding answering it.
Do not concentrate too heavily on one part of the exam at the expense of
other parts. Your “best” answer is usually answered quite well, quite quickly.
Your “worst” answer could usually do with a bit more time.
Exams vary, some allow texts and/or notes to be used, others are “closed
book” with no materials taken into the exam. Some require written responses
to problem style questions while others include short questions or involve a
multiple choice format. If you are aware of the type of exam you are to face
then your study and approach should be structured accordingly. If you want
to make the best use of the material studied you should keep in mind how you
are in fact going to use it. For example multiple choice formats may require
a particular approach or technique (although all of the basic study and exam
advice, such as focussing on what the question requires and having clear
content, still apply). One such study technique could involve drafting your
own multiple choice questions. This allows you to familiarise yourself with the
format you will face in the exam and to acquire knowledge at the same time.
If you feel you are using worthwhile study techniques, that is, techniques that
will make a difference to how you approach and perform in the exam, it is
more likely that learning will result.

ASIC website and newspaper articles

The most important starting point for learning company law will be the texts,
your lectures and your tutorials. However, all students will benefit by looking
at the law from a different angle. The internet is a good example. Websites
such as the ASIC site ([Link]) provide general corporate advice as
well as current issues. Another good source of corporate issues is newspapers
and this is why the newspaper extracts are included in this book. Each extract
has been chosen because it has a connection to the relevant area of company
law covered in the Chapter. The extracts are quick to read and are indicative
of the issues you are studying. When you read the extracts you should look
out for issues that relate to the law covered in the Chapter containing the
extract. This way you become alert to corporate issues from a different perspec-
tive. Spending the few minutes it takes to read the extracts may help you
to recognise issues in the text. The goal is to develop an appreciation of the
commercial context of your study, and hopefully by doing so your ability to
understand the law will improve.

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Quilter 3e [Link] 10 24/01/2017 10:49 am
 Contents

Preface. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v
Acknowledgments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi
Learning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii
Table of Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii
Table of Statutes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxv
1 The Legal System. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Case law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Statute law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Hierarchy of Australian courts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
2 Contract. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Essentials of a valid contract. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Vitiating elements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Terms of the contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Termination of the contract. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Remedies for breach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
3 Tort. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Duty of care . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Breach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Causation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Civil liability legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Contributory negligence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Vicarious liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
4 Agency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
5 Comparison of Business Organisations . . . . . . . . . . . . . . . . . . . . . . . . 33
Characteristics of businesses other than companies . . . . . . . . . . . . . . . . . . . . . . . 34
Associations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Sole trader. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Joint venture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Partnership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Trading trusts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Choice of business structure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
6 History and Legislative Framework of Company Law. . . . . . . . . . . . 42
Factors in the development of company law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Company law and the Australian Constitution. . . . . . . . . . . . . . . . . . . . . . . . . . 43
The Australian Constitution. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
The Corporations Law scheme to the Corporations Act . . . . . . . . . . . . . . . . . . . . 44
Steps to a national company law in Australia. . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Reform. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

xi

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 xii   Company Law Perspectives

7 Types of Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Classification according to liability of members. . . . . . . . . . . . . . . . . . . . . . . . . . 48
Classification according to public status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
Proprietary companies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
Public companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
8 Registration and Its Effects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
The registration process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
The company as an individual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
The Corporate veil—companies are separate legal entities . . . . . . . . . . . . . . . . . . 58
Corporate group structures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Trustee companies—liability of directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Characteristics of companies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
9 Constitution and Replaceable Rules . . . . . . . . . . . . . . . . . . . . . . . . . . 64
From articles to the replaceable rules. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Replaceable rules adopted on registration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
How the replaceable rules work. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Amending the constitution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
Expropriation of minority share rights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
10 Company Liability in Contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
The authority to contract. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
The assumptions in s 129. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
The indoor management rule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78
Enforcing contracts with the company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79
11 Company Liability in Tort and Crime. . . . . . . . . . . . . . . . . . . . . . . . . 81
12 Promoters and Pre-Registration Contracts. . . . . . . . . . . . . . . . . . . . . . 84
Liability of promoters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84
Enforceability of pre-registration contracts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
13 Company Financing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87
Comparison of share and loan capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87
Membership of a company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
14 Fundraising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Regulation and liability concerning fundraising. . . . . . . . . . . . . . . . . . . . . . . . . . 94
15 Share Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Maintenance and reduction of share capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Share buy-backs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Classes of shares. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103
Variation of class rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
16 Dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
Matters relevant to payment of a dividend. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
The decision to pay a dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107

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 Contents  xiii

When the dividend becomes a debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108

The move from a profits test to a balance sheet solvency test. . . . . . . . . . . . . . . 108
17 Debentures and Loan Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
Debentures and the requirement for a trust deed . . . . . . . . . . . . . . . . . . . . . . . . 110
Security interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
Types of security interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Registration and priority. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Retention of title clauses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
Invalidation of security interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
18 Directors and Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
Types of directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
Composition of the board of directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118
Appointment of directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Remuneration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Removal and resignation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125
Chair of directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Board meetings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
Company secretary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Disqualification from management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131
Disqualification: section summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134
19 Directors’ Fiduciary Duties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
The obligations of directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
Classification of fiduciary duties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
Examples of cases dealing with the fiduciary duty. . . . . . . . . . . . . . . . . . . . . . . 137
20 Directors’ Statutory Duties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146
Relationship of the general law to the Corporations Act. . . . . . . . . . . . . . . . . . . 146
Statutory duties of good faith and loyalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148
The duty of care and diligence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156
Corporate social responsibility and corporate governance. . . . . . . . . . . . . . . . . . 171
Insolvent trading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181
21 Remedies and Penalties for Directors’ Breaches . . . . . . . . . . . . . . . . 183
Enforcing directors’ general law duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183
Enforcing directors’ statutory duties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183
Civil penalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184
Disqualification as a penalty for breach of duty. . . . . . . . . . . . . . . . . . . . . . . . . 188
Criminal penalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191
Where criminal proceedings follow civil proceedings. . . . . . . . . . . . . . . . . . . . . . 193
22 Financial and Reporting Obligations. . . . . . . . . . . . . . . . . . . . . . . . . 194
Reporting obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194
Continuous disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195
ASX Listing Rules and continuous disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . 197
Enforcing the Listing Rules regarding continuous disclosure. . . . . . . . . . . . . . . . 199
Infringement notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201

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 xiv   Company Law Perspectives

23 Auditors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Auditor independence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Auditors’ statutory duties and powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
Liability in negligence to the company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207
Liability to outsiders. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208
24 ASIC Investigation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
25 Members’ Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215
Sources of members’ rights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215
The range of members’ rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216
The development of the derivative action. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217
Rights under the Corporations Act regarding oppression. . . . . . . . . . . . . . . . . . . 222
Examples of cases dealing with oppression. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223
Members’ personal rights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 232
Class actions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 233
26 Members’ Meetings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237
Company meetings transact business. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237
Company resolutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 238
Proxies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243
Voting procedures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243
27 Takeovers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245
Effects of a takeover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245
Threshold for control. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246
Compulsory acquisitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247
Acquisitions that do not breach the prohibitions . . . . . . . . . . . . . . . . . . . . . . . . 249
Acquisitions exempt from the prohibitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250
Permitted means of acquisition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250
Takeover procedure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251
Conduct during a takeover. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 252
Defence strategies and tactics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 252
The Takeovers Panel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254
Overview of a takeover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257
28 Financial Services and Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259
Regulating for an efficient and equitable market . . . . . . . . . . . . . . . . . . . . . . . . 259
The ASX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263
Australian financial services licences. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263
Regulating market conduct . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 265
Insider trading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 267
Defences to insider trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 269
Criminal penalties for insider trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270
Compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 277
Prohibited conduct in relation to securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278
Characteristics of an equitable market for financial products and services . . . . . 278

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 Contents  xv

29 Insolvency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282
Approaches to insolvency under the Corporations Act. . . . . . . . . . . . . . . . . . . . . 283
When is a company insolvent? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 284
Insolvency reforms and outcomes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 287
30 Arrangements and Reconstructions. . . . . . . . . . . . . . . . . . . . . . . . . . 290
31 Voluntary Administration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293
Schedule of administration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293
Commencement and effect of administration. . . . . . . . . . . . . . . . . . . . . . . . . . . 293
Appointment of an administrator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294
Effect of the administration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294
How the company is run under administration . . . . . . . . . . . . . . . . . . . . . . . . . 295
The outcome of administration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 298
Deed of company arrangement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300
Role of the court in voluntary administration. . . . . . . . . . . . . . . . . . . . . . . . . . . 305
32 Receivership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 307
Appointment of receivers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 307
Powers of receivers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 308
Duties of receivers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 309
33 Liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312
Voluntary winding up. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312
Compulsory winding up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312
Winding up by the court on the ground of insolvency. . . . . . . . . . . . . . . . . . . . . 312
Winding up by the court on grounds other than insolvency . . . . . . . . . . . . . . . . 316
Matters that arise following the appointment of a liquidator . . . . . . . . . . . . . . . 317
The liquidator’s power to recoup funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318
Voidable transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320
Types of voidable transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321
Voidable transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323
Insolvent trading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327
Defences to an insolvent trading action. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 329
Regulating liquidators’ conduct. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 336
Pooling. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 338
Deregistration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 338
Insolvency notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339
34 Company Regulation in the Competition and Consumer Act. . . . . 343
Protecting competition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 343
Misleading or deceptive conduct. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345

Glossary and Abbreviations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 348

Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 352

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 Table of Cases

ABC Development Learning Centres Pty Ltd v Wallace [2006]

VSC 171; [2007] VSCA 138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [11.10]
ACCC v Colgate-Palmolive Pty Ltd [2002] FCA 619. . . . . . . . . . . . . . . . [21.40]
Adler v ASIC [2003] NSWCA 131; 46 ACSR 504. . . . . . . . . . . . . . . . . . . [20.20]
Adler v DPP (2004) 22 ACLC 1460. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [21.60]
Advance Bank v FAI Insurances Ltd (1987) 9 NSWLR 464. . . . . . . . . . . [19.20]
Aequitas v AEFC Leasing Pty Ltd [2001] NSWSC 14. . . . . . . . . . . . . . . . [12.10]
Airservices Australia v Ferrier (1996) 185 CLR 483. . . . . . . . . . . . . . . . . [33.90]
Airtrain Holdings Ltd (No 2), Re [2013] FCA 377. . . . . . . . . . . . . . . . . . [30.10]
Allen v Gold Reefs of West Africa Ltd [1900] 1 Ch 656 . . . . . . . . . . . . . . [9.40]
Aluminium Industries Vaassen BV v Romalpa Aluminium Ltd [1976]
2 All ER 552. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [17.50]
Ammonia Soda Co Ltd v Chamberlain [1918] 1 Ch 266 . . . . . . . . . . . . [16.50]
Angas Law Services Pty Ltd (In liquidation) v Carabelas [2005]
HCA 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.10]
Ansett Australia Ltd and Mentha, Re [No 2] (2002) 40 ACSR 419;
[2002] FCA 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.110]
ASC v Kutzner (1985) 25 ACSR 723. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [24.10]
ASIC v Adler [2002] NSWSC 171; (2002) 41 ACSR 72. . . . . . . [18.110], [20.20],
[20.30], [20.80], [21.60]
ASIC v Ariff [2009] NSWSC 829. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.130]
ASIC v Australian Investors Forum Pty Ltd (No 3) (2005)
56 ACSR 204. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [18.110]
ASIC v Cassimatis (No 8) [2016] FCA 1023 . . . . . . . . . . . . . . . . . . . . . . [20.95]
ASIC v Chemeq Ltd (2006) 58 ACSR 169; [2006] FCA 936. . . . . [22.30], [22.40]
ASIC v Citigroup Global Markets Australia Pty Limited (No 4)
[2007] FCA 963 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [28.70]
ASIC v Deloitte Touche Tohmatsu (1996) 70 FCR 93 . . . . . . . . . . . . . . . [24.10]
ASIC v Edge (2007) 211 FLR 137; [2007] VSC 170 . . . . . . . . . . . . . . . . [33.130]
ASIC v Fortescue Metals Group Ltd (No 1) (2011)
190 FCR 364; [2011] FCAFC 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [22.30]
ASIC v Healey (2011) 196 FCR 291; [2011] FCA 717 . . . . . . . . . [20.90], [22.20]
ASIC v Hellicar (2012) 86 ALJR 522; [2012] HCA 17. . . . . . . . . [18.75], [20.100]
ASIC v Ingleby 93 ACSR 274; (2013) 275 FLR 171; [2013] VSCA 49 . . . [21.40]
ASIC v Macdonald (No 11) [2009] NSWSC 287; (2009)
71 ACSR 368. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .[20.100], [21.40], [28.40]
ASIC v Macdonald (No 12) (2009) 73 ACSR 638; [2009]
NSWSC 714 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.80], [20.100], [21.40]
ASIC v Mariner Corporation (2015) 241 FCR 502. . . . . . . . . . . . . . . . . . [20.95]
ASIC v Narain (2008) 66 ACSR 688; [2008] FCAFC 120. . . . . . . . . . . . . [28.40]
ASIC v Plymin (2003) 46 ACSR 126; [2003] VSC 123. . . . . . . [33.110], [33.120]

xvii

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 xviii   Company Law Perspectives

ASIC v Radisson Maine Property Group (Australia) Pty Ltd

(2004) 51 ACSR 420; [2004] NSWSC 949. . . . . . . . . . . . . . . . . . . . . [33.40]
ASIC v Rich (2009) 75 ACSR 1; [2009] NSWSC 1229 . . . . . . . . . . . . . . . [21.40]
ASIC v Skeers [2007] FCA 1551 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [24.10]
ASIC v Somerville [2009] NSWSC 934 . . . . . . . . . . . . . . . . . . . . . . . . . . [20.40]
ASIC v Sydney Investment House Equities Pty Ltd (2009)
69 ACSR 648. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [18.110]
ASIC v Vines (2005) 55 ACSR 617; [2005] NSWSC 738. . . . . . . . . . . . . . [20.80]
ASIC v Vines [2005] NSWSC 1349. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.20]
ASIC v Vizard (2005) 145 FCR 57; [2005] FCA 1037. . . . . . . . . . . . . . . . [21.40]
Attorney-General v Alinta Ltd (2008) 82 ALJR 382. . . . . . . . . . . . . . . . [27.100]
Austin Australia Pty Ltd v De Martin & Gasparini Pty Ltd [2007]
NSWSC 1238 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.40]
Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270;
[2000] HCA 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.140]
Australasian Oil Exploration Ltd v Lachberg (1958) 101 CLR 119. . . . . [16.50]
Australian Institute of Fitness Pty Ltd v Australian Institute of
Fitness (Vic/Tas) Pty Ltd (No 3) (2015) 109 ACSR 369; [2015]
NSWSC 1639 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.50]
Australian Pipeline Limited v Alinta Ltd [2007] FCAFC 55. . . . . . . . . . [27.100]

Bank of New Zealand v Fiberi Pty Ltd (1994) 12 ACLC 48. . . . . . . . . . . [10.30]
Beck v Tuckey (2007) 213 FLR 152; [2007] NSWSC 1065. . . . . . . . . . . . [13.30]
Beck v Weinstock (2013) 251 CLR 425; [2013] HCA 15 . . . . . . . . . . . . . [15.60]
Bell Group Ltd (in liq) v Westpac Banking Corp (No 9) (2008)
20 ACSR 1; [2008] WASC 239. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.20]
Black v Smallwood (1966) 117 CLR 52 . . . . . . . . . . . . . . . . . . . . . . . . . . [12.20]
Bolton v Stone [1951] AC 850. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [3.30]
Box Valley Pty Ltd v Kidd [2006] NSWCA 26 . . . . . . . . . . . . . . . . . . . . . [29.30]
Briggs v James Hardie & Co Pty Ltd (1989) 16 NSWLR 549. . . . . . . . . . . [8.50]
Brookfield Multiplex Ltd v International Litigation Funding
Partners Pte Ltd [2009] FCAFC 147. . . . . . . . . . . . . . . . . . . . . . . . . . [25.70]
Brookton Co-operative Society Limited v FCT (1981) 147 CLR 441. . . . [16.40]
Broomhead (JW) (Vic) Pty Ltd v JW Broomhead Pty Ltd (1985)
3 ACLC 355. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [8.60]
Brunninghausen v Glavanics (1999) 17 ACLR 1247. . . . . . . . . . . . . . . . [19.20]
Bundaberg Sugar Ltd v Isis Central Sugar Mill Co Ltd (2006)
62 ACSR 502; [2006] QSC 538. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [9.50]
Buzzle Operations Pty Ltd (in liq) v Apple Computer Australia
Pty Ltd (2011) 250 FLR 42; [2011] NSWCA 109. . . . . . . . . . . . . . . . [18.20]
Byron v Southern Star Group Pty Ltd (1997) 136 FLR 267. . . . . . . . . . [33.120]

Campbell v Backoffice Investments Pty Ltd (2008) 66 ACSR 359;

[2008] NSWCA 95 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.50]
Campbell v Jervois Mining Ltd (2009) 27 ACLC 690;
[2009] FCA 401 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [26.30]

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 Table of Cases   xix

Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales

(Finance) Pty Ltd (1974) 131 CLR 321 . . . . . . . . . . . . . . . . . . . . . . . . [5.70]
City Equitable Fire Insurance Co Ltd, Re [1925] Ch 407. . . . . . . . . . . . . [20.60]
Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256 . . . . . . . . . . . . . . . . . . [2.20]
Cassidy v Ministry of Health [1951] 1 All ER 574. . . . . . . . . . . . . . . . . . . [3.70]
Chapman v Hearse (1961) 106 CLR 112. . . . . . . . . . . . . . . . . . . . . . . . . . [3.20]
Chappell & Co Nestle Co Ltd [1960] AC 87 . . . . . . . . . . . . . . . . . . . . . . . [2.40]
Codelfa Construction Pty Ltd v State Rail Authority (NSW) (1982)
149 CLR 337. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.140]
Coeur de Lion Investments Pty Ltd v Kelly (2013) 302 ALR 771;
[2013] QCA 160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.30]
Commercial Bank of Australia Ltd v Amadio (1983) 151 CLR 447;
[1983] HCA 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.100]
Cook v Deeks [1916] 1 AC 554. . . . . . . . . . . . . . . . . . . . . . . . . . . [19.60], [25.30]
Coope v LCM Litigation Fund Pty Ltd [2016] NSWCA 37 . . . . . . . . . . . [19.50]
Crabtree-Vickers Pty Ltd v Australian Direct Mail Advertising &
Addressing Co Pty Ltd (1976) 50 ALJR 203. . . . . . . . . . . . . . . . . . . . [10.10]
Creasey v Breachwood Motors Ltd (1992) ACLC 3,052 . . . . . . . . . . . . . . [8.40]
Crusader Ltd, Re (1995) 17 ACSR 336. . . . . . . . . . . . . . . . . . . . . . . . . . . [30.10]
Cumbrian Newspapers Group Ltd v Cumberland and Westmorland
Herald Newspaper and Printing Co Ltd [1987] Ch 1. . . . . . . . . . . . [15.80]

Daniels v Anderson (1995) 37 NSWLR 438; 13 ACLC 614. . . . [20.60], [20.70],

[23.30]
Deputy Commissioner of Taxation v Clark (2003) 57 NSWLR 113;
[2003] NSWCA 91 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.120]
Dimbula Valley (Ceylon) Tea Co Ltd v Laurie [1961] Ch 353. . . . . . . . . [16.50]
Donoghue v Stevenson [1932] AC 562 . . . . . . . . . . . . . . . . . . . . . . . . . . . [3.20]
Dorajay Pty Ltd v Aristocrat Leisure Ltd [2009] FCA 19;
(2008) 67 ACSR 569. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.70]
Downey v Aira Pty Ltd (1996) 14 ACLC 1068. . . . . . . . . . . . . . . . . . . . . [29.30]

Edwards v Attorney-General (NSW) (2004) 50 ACSR 122;

[2004] NSWSC 272. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [8.60]
Elders Trustee Co Ltd v EG Reeves Pty Ltd (1987) 78 ALR 193. . . . . . . . [12.10]
Elliott v ASIC (2004) 48 ACSR 621. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.110]
Erlanger v New Sombrero Phosphate Co (1878) 3 App
Cas 1218. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [12.10]
Esanda Finance Corp Ltd v Peat Marwick Hungerfords (1997)
15 ACLC 483. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [23.40]

Florgale Uniforms Pty Ltd v Orders (2004) 187 FLR 142;

[2004] VSC 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [32.30]
Foss v Harbottle (1843) 2 Hare 461; 67 ER 189. . . . . . . . . . . . . . . . . . . . [25.30]
Forrest v ASIC [2012] HCA 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . [22.30], [22.40]

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 xx   Company Law Perspectives

Fowler v Lindholm, in the matter of Opes Prime Stockbroking

Limited [2009] FCAFC 125 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [30.10]
Fraser v NRMA Holdings Ltd (1995) 55 FCR 452. . . . . . . . . . . . . . . . . . . [14.20]
Freeman and Lockyer v Buckhurst Park Properties (Mangal) Ltd
[1964] 2 QB 480. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [4.10], [10.10]
Furs Ltd v Tomkies (1936) 54 CLR 583 . . . . . . . . . . . . . . . . . . . . [19.40], [20.30]

Gambotto v WCP Ltd (1995) 182 CLR 432;

(1995) 13 ACLC 342 . . . . . . . . . . . . . [9.40], [9.50], [25.30], [25.60], [30.10]
Gilford Motor Co Ltd v Horne [1933] Ch 935. . . . . . . . . . . . . . . . . . . . . . [8.40]
Gillfillan v ASIC (2012) 92 ACSR 460; [2012] NSWCA 370 . . . . . . . . . . [18.75]
Glencore International AG (ACN 114 271 055) v
Takeovers Panel [2006] FCA 274; (2006) 56 ACSR 753. . . . . . . . . . [27.100]
Gold Ribbon (Accountants) Pty Ltd v Sheers (2005)
23 ACLC 1,288. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.80]
Gold Ribbon (Accountants) Pty Ltd v Sheers [2006] QCA 335. . . . . . . . [20.80]
Graywinter Properties Pty Ltd v Gas & Fuel Corp Superannuation
Fund (1996) 70 FCR 452; 21 ACSR 581. . . . . . . . . . . . . . . . . . . . . . . [33.40]
Greenhalgh v Arderne Cinemas Ltd [1946] 1 All ER 512 . . . . . . . . . . . . [15.80]
Grey Eisdell Timms v Combined Auctions Pty Ltd (1995)
13 ACLC 965. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [9.50]
Grove v Flavel (1986) 4 ACLC 654. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.40]

Hackshaw v Shaw (1984) 155 CLR 614. . . . . . . . . . . . . . . . . . . . . . . . . . . [3.30]

Hadley v Baxendale (1854) 156 ER 145. . . . . . . . . . . . . . . . . . . . . . . . . . [2.160]
Hall v Poolman (2007) 65 ACSR 123; [2007] NSWSC 1330 . . . . . . . . . . [21.30]
Hamilton v BHP Steel Pty Ltd (1995) 13 ACLC 1548 . . . . . . . . . . . . . . . [32.40]
Hannes v Director of Public Prosecutions (Cth) (No 2) (2006)
60 ACSR 1; [2006] NSWCCA 373 . . . . . . . . . . . . . . . . . . . . . . . . . . . [28.50]
Hawke v Daniel Efrat Consulting Services Pty Ltd (1999)
17 ACLC 733. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [32.20]
Hedley Byrne & Co Ltd v Heller & Partners Ltd [1964] AC 465. . . . . . . . [3.20]
Hewlett Packard Australia Pty Ltd v GE Capital Finance Pty Ltd
(2003) 47 ACSR 51; [2003] FCAFC 256. . . . . . . . . . . . . . . . . . . . . . . [17.60]
Hosmer Holdings Pty Ltd v CAJ Investments Pty Ltd (1995)
57 FCR 45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [34.30]
Howard Smith Ltd v Ampol Petroleum Ltd [1974] AC 821 . . . . . . . . . . [19.30]
Huang v Wang (2016) 114 ACSR 586; [2016] NSWCA 164. . . . . . . . . . . [25.30]
Huddert Parker and Co Pty Ltd v Moorehead (1909) 8 CLR 330. . . . . . . [6.30]
Hurley v BGH Nominees Pty Ltd (No 2) (1984) 2 ACLC 497. . . . . . . . . . [8.60]

IMF (Australia) Ltd v Sons of Gwalia Ltd (2005)

143 FCR 274; [2005] FCAFC 75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.70]
International Litigation Partners Pte Ltd v Chameleon
Mining NL (2011) 82 ACSR 517; [2011] NSWCA 50 . . . . . . . . . . . . [25.70]

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 Table of Cases   xxi

Jaensch v Coffey (1984) 155 CLR 549; [1984] HCA 52. . . . . . . . . . . . . . . [3.20]
Jarvis v Swan Tours Ltd [1973] QB 233 . . . . . . . . . . . . . . . . . . . . . . . . . . [2.160]

Kelner v Baxter (1866) LR 2 CP 174. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [12.20]

Kinsela v Russell Kinsela Pty Ltd (1986) 4 NSWLR 722. . . . . . . . [19.20], [19.60]
Kwok v The Queen (2007) 175 NSWLR 278 . . . . . . . . . . . . . . . . . . . . . . [20.50]

L Shaddock & Associates Pty Ltd v Parramatta City Council (No 1)

(1981) 150 CLR 225. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [3.20]
Lee v Lee’s Air Farming Ltd [1961] AC 12. . . . . . . . . . . . . . . . . . . . . . . . . [8.30]
Lee v Neuchatel Asphalte Co (1889) 41 Ch D 1 . . . . . . . . . . . . . . . . . . . [16.50]
Lehman Brothers Holdings Inc v City of Swan (2010)
240 CLR 509. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.130]
Lewis v Doran (2004) 50 ACSR 175; [2004] NSWSC 608 . . . . . . . . . . . . [29.30]
Lion Nathan Australia Pty Ltd v Coopers Brewery Ltd (2006)
156 FCR 1; [2006] FCAFC 144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [9.30]
Locktronic Systems Pty Ltd (in liq) (receivers appointed),
Re [2008] VSC 626. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.120]
Lumley v Wagner (1852) 42 ER 687. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.170]

Macaura v Northern Assurance Co Ltd [1925] AC 619. . . . . . . . . . . . . . . [8.30]

Mackay Sugar Ltd v Wilmar Sugar Australia Ltd [2016] FCAFC 133 . . . [25.40]
Maher v Honeysett & Maher Electrical Contractors Pty Ltd [2005]
NSWSC 859 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.30]
Manpac Industries Pty Ltd v Ceccattini (2002) 91 NSWLR 786;
[2002] NSWSC 330. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.120]
Mansfield v The Queen (2012) 247 CLR 86; [2012] HCA 49 . . . . . . . . . [28.50]
McRae v Commonwealth Disposals Commission (1950) 84 CLR 377. . . [2.50]
Meridian Global Funds Management Asia Ltd v
Securities Commission [1995] 2 AC 500. . . . . . . . . . . . . . . . . . . . . . [11.10]
Metro Meat Ltd v Fares Rural Co Pty Ltd (1985) 58 ALR 111. . . . . . . . . [2.130]
Metropolitan Fire Systems Pty Ltd v Miller (1997) 23 ACSR 699. . . . . [33.110],
.[33.120]
MG Corrosion Consultants Pty Ltd v Vinciguerra (2011)
82 ACSR 367; [2011] FCAFC 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.30]
Modbury Triangle Shopping Centre Pty Ltd v Anzil (2000)
205 CLR 254. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [3.40]
Morgan v 45 Flers Avenue Pty Ltd (1987) 5 ACLC 394. . . . . . . . . . . . . . [25.50]
Morley v ASIC (2010) 247 FLR 140; [2010] NSWCA 331 . . . . . . . . . . . [20.100]
Morley v Statewide Tobacco Services Ltd [1993]
8 ACSR 305. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [33.110], [33.120]
Mutual Life & Citizens’ Assurance Co Ltd v Evatt (1968)
122 CLR 556. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [3.20]

National Express Group Australia (Bayside Trains), Re (2003)

46 ACSR 674; [2003] FCA 764. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.140]

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 xxii   Company Law Perspectives

Network Ten Pty Ltd v Rowe (2006) 149 IR 273; [2006] NSWCA 4. . . . [2.170]
New South Wales v Commonwealth (1990) 8 ACLC 120. . . . . . . . . . . . . [6.30]
NFU Development Trust Ltd, Re [1972] 1 WLR 1548. . . . . . . . . . . . . . . [30.10]
North v Marra Developments Ltd (1979) 4 ACLR 585 . . . . . . . . . . . . . . [28.40]
NRMA v Parker (1986) 4 ACLC 609. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [26.10]
NRMA v Scarlett (2002) 43 ACSR 401 . . . . . . . . . . . . . . . . . . . . . . . . . . . [26.10]

Olley v Marlborough Court Ltd [1949] 1 KB 532 . . . . . . . . . . . . . . . . . . [2.110]

Osborne Computer Corp Pty Ltd v Airroad Distribution
Pty Ltd (1995) 37 NSWLR 382; 17 ACSR 614. . . . . . . . . . . . . . . . . . [31.70]
Oscar Chess v Williams [1957] 1 WLR 370. . . . . . . . . . . . . . . . . . . . . . . [2.110]
Overseas Tankship (UK) Ltd v Miller Steamship Co Pty Ltd
(The Wagon Mound No 2) [1967] AC 617. . . . . . . . . . . . . . . . . . . . . [3.40]
Overseas Tankship (UK) Ltd v Morts Dock & Engineering Co Ltd
(The Wagon Mound No 1) [1961] AC 388. . . . . . . . . . . . . . . . . . . . . [3.40]

Pacific Acceptance Corp Ltd v Forsyth (1970) 92 WN (NSW) 29. . . . . . [23.30]

Pacific Carriers Ltd v BNP Paribas (2004) 218 CLR 451;
[2004] HCA 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [10.10]
Pan Pharmaceuticals, Re (2003) 46 ACSR 77; [2003] FCA 598. . . . . . . [31.110]
Panasystems Pty Ltd v Voodoo Tech Pty Ltd (2003)
21 ACLC 642; [2003] FCA 428 . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.140]
Panorama Developments (Guildford) v Fidelis Furnishing
Fabrics Ltd [1971] 2 QB 711 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [18.80]
Pancontinental Mining Ltd v Goldfields Ltd (1995)
16 ACSR 463. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [14.20]
Paris v Stepney Borough Council [1951] AC 367 . . . . . . . . . . . . . . . . . . . [3.30]
Pasminco Ltd, Re [No 2] (2004) 22 ACLC 774; 49 ACSR 470;
[2004] FCA 656 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [31.140]
Paul A Davies (Aust) Pty Ltd v Davis (1983)
1 ACLC 1091. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [19.20], [21.10],
.[33.70]
Peso Silver Mines v Cropper (1966) 58 DLR (2d) 1. . . . . . . . . . . . . . . . . [20.40]
Pharmaceutical Society of Great Britain v Boots Cash Chemists
(Southern) Ltd [1953] All ER 482 . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.20]
Polkinghorne v Holland (1934) 51 CLR 143. . . . . . . . . . . . . . . . . . . . . . . [5.70]
Poliwka v Heven Holdings Pty Ltd (1992) 6 WAR 505. . . . . . . . . . . . . . [18.75]

Queensland Mines Ltd v Hudson (1978) 52 ALJR 399 . . . . . . . . [19.50], [20.40]

R v Berkshire Justices (1879) 4 QBD 469. . . . . . . . . . . . . . . . . . . . . . . . . [22.40]

R v Clarke (1927) 40 CLR 227 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.20]
R v Firns (2001) 51 NSWLR 548. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [28.60]
R v Goodall (1975) 11 SASR 94; 1 ACLR 17. . . . . . . . . . . . . . . . . . . . . . . . [8.30]
R v Hall (No 2) [2005] NSWSC 890. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [28.70]
R v Hughes (2000) 202 CLR 535 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [6.40]

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 Table of Cases   xxiii

R v Moylan [2014] NSWSC 944. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [28.10]

R v Rivkin (2003) 45 ACSR 366; [2003] NSWSC 447. . . . . . . . . . . . . . . . [28.70]
Renshaw v Queensland Mining Corporation Ltd (2014) 229 FCR 56 . . [18.50]
Reynolds Bros (Motors) Pty v Esanda Ltd (1983) 1 ACLC 1333. . . . . . . [17.30]
Rich v ASIC (2004) 220 CLR 129; 22 ACLC 1198. . . . . . . . . . . . . . . . . . [21.40]
Royal British Bank v Turquand (1856) 119 ER 886. . . . . . . . . . . . . . . . . [10.30]

Salomon v Salomon & Co Ltd (1897) AC 22. . . . . . . . . . . . . . . . . . . . . . . [8.30]

San Sebastian Pty Ltd v Minister Administering Environmental
Planning and Assessment Act 1979 (1986) 162 CLR 340. . . . . . . . . . [3.20]
Sanford v Sanford Courier Service Pty Ltd (1987) 5 ACLC 394 . . . . . . . [25.50]
Scottish Co-operative Wholesale Soc Ltd v Meyer [1959]
AC 324. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.50]
Shum Yip Properties Development Ltd v Chatswood Investment &
Development Co Pty Ltd (2002) 40 ACSR 619. . . . . . . . . . . . . . . . . [25.50]
Sidebottom v Kershaw, Leese & Co [1920] 1 Ch 154 . . . . . . . . . . . . . . . . [9.40]
Smith Stone & Knight Ltd v Birmingham Corp [1939]
4 All ER 116. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [8.50]
Smythe v Thomas (2007) 71 NSWLR 537; [2007] NSWSC 844. . . . . . . . . [2.20]
Sons of Gwalia Ltd (administrator appointed) v
Margaretic [2005] FCA 1305 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [22.30]
Sons of Gwalia Ltd (administrator appointed) v
Margaretic (2007) 231 CLR 160; [2007] HCA 1 . . . . . . . . . [13.20], [22.30],
[25.70], [31.130], [34.30]
Southern Cross Interiors Pty Ltd v Deputy Commissioner of
Taxation [2001] NSWSC 621. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [29.30]
Southern Cross Mine Management Pty Ltd v Ensham Resources
Pty Ltd [2005] QSC 233 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [19.50]
Soyfer v Earlmaze Pty Ltd [2000] NSWSC 1068. . . . . . . . . . . . . . . . . . . . [10.20]
Spanish Prospecting Co Ltd, Re [1911] 1 Ch 92 . . . . . . . . . . . . . . . . . . . [16.50]
Spies v The Queen (2000) 201 CLR 603; [2000] HCA 43 . . . . . . . . . . . . [20.40]
Suh v Cho [2013] VSC 491. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.30]
Sumiseki Materials Company Ltd v Wambo Coal Pty Ltd [2013]
NSWSC 235 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.40]
Sunburst Property Pty Ltd v Agwater Pty Ltd [2005] SASC 335 . . . . . . . [10.20]
Sydney City Council v West (1965) 114 CLR 481. . . . . . . . . . . . . . . . . . [2.110]

21st Century Sign Co Pty Ltd, Re the [1994] 1 Qd R 93. . . . . . . . . . . . . [17.60]

Tesco Supermarkets v Nattrass [1972] AC 153. . . . . . . . . . . . . . . . . . . . . [11.10]
Thomas v HW Thomas Ltd (1984) 2 ACLC 610 . . . . . . . . . . . . . . . . . . . [25.50]
Thornton v Shoe Lane Parking Ltd [1971] 1 All ER 686;
2 QB 163 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.20], [2.110]
Todd v Nicol [1957] SASR 72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [2.30]
Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165. . . . . . [2.110]
Tourprint International Pty Ltd v Bott (1999) 32 ACSR 201. . . . . . . . . [33.120]
Tracy v Mandalay Pty Ltd (1953) 88 CLR 215. . . . . . . . . . . . . . . . . . . . . [12.10]

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 Trade Practices Commission v David Jones (Australia) Ltd (1986)
13 FCR 446. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [34.20]
Trevor v Whitworth (1887) 12 App Cas 409. . . . . . . . . . . . . . . . . . . . . . [15.20]
Turnbull v NRMA (2004) 50 ACSR 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.50]

United Dominions Corporation Ltd v Brian Pty Ltd (1985)

157 CLR 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [5.60]

Vadori v AAV Plumbing (2010) 77 ACSR 616;

[2010] NSWSC 274. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [25.50]
Victoria Laundry Ltd v Newman Industries Ltd [1949] 2 KB 528. . . . . . [2.160]
Vines v ASIC (2007) 62 ASCR 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [20.80]

Wakim, Re; Ex parte McNally (1999) 198 CLR 511. . . . . . . . . . . . . . . . . . [6.40]

Walker v Sydney West Area Health Service [2007] NSWSC 526. . . . . . . . [3.50]
Walker v Wimborne (1976) 137 CLR 1 . . . . . . . . . . . . . . . . . . . . . . . . . . [19.20]
Wayde v NSW Rugby League Ltd (1985) 3 ACLC 799. . . . . . . . . . . . . . . [25.40]
Westpac Banking Corporation v Bell Group Ltd (in liq) (No 3)
(2012) 44 WAR 1; [2012] WASCA 157. . . . . . . . . . . . . . . . . . [19.30], [20.20]
Whitlam v ASIC (2003) 46 ACSR 1; [2003] NSWCA 183 . . . . . . [18.70], [26.30]
Winepros Ltd, Re [2002] ATP 12, (2002) 43 ACSR 566. . . . . . . . . . . . . . [27.10]

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 Table of Statutes

Commonwealth s 51(xvii): [1.30]

s 51(xviii): [1.30]
Australian Consumer Law see
s 51(xx): [1.30], [6.20], [6.30],
Competition and Consumer Act
[6.40]
2010
s 51(xxvii): [1.30]
Australian Securities and Investments
s 51(xxviii): [1.30]
Commission Act 2001: [6.60],
[13.20], [24.10], [33.30] s 51(xxix): [1.30]
s 12BB: [34.30] s 51(xxxvii): [6.40], [6.50]
s 12CB: [24.10] s 52: [1.30]
s 12DA: [34.30] s 90: [1.30]
s 12DG: [24.10] s 109: [1.30]
s 12DL: [24.10] s 114: [1.30]
s 13: [21.20] s 115: [1.30]
s 13(1): [24.10] s 122: [1.30]
s 14: [24.10] s 128: [1.30]
s 19: [24.10] Company Law Review Act 1998:
s 22: [24.10] [6.60], [9.10], [16.30]
s 23: [24.10] Competition and Consumer Act
ss 28-39: [24.10] 2010: [34.10]
s 49: [21.20], [24.10] s 44ZZRD: [34.20]
s 50: [19.20], [21.10], [21.20], s 45: [34.20]
[24.10] s 46: [34.20]
s 51: [24.10] s 47: [34.20]
s 52: [24.10] Sch 2: Australian Consumer Law:
s 76: [24.10] [2.70], [2.150], [34.10]
s 93A: [21.40], [24.10] s 4D: [34.20]
s 93AA: [21.40], [24.10] s 18: [2.110], [34.30]
Pt 3: [24.10] s 20: [2.100], [34.20]
Bankruptcy Act 1966: [29.40] s 21: [2.100], [34.20]
Business Names Registration Act s 22: [2.100], [34.20]
2011: [5.20] s 29: [34.30]
Commonwealth of Australia s 54: [2.110]
Constitution Act 1900 s 55: [2.110]
s 51(i): [1.30] s 64: [2.110]
s 51(ii): [1.30] s 232: [34.30]
s 51(v): [1.30] s 236: [34.30]
s 51(vi): [1.30] s 237: [34.30]
s 51(xi): [1.30] s 243: [34.30]
s 51(xii): [1.30] Corporate Law Economic Reform
s 51(xiii): [1.30] Program Act 1999: [6.60], [25.30]

xxv

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edges.”
It was to be divined from the expression of this somewhat unchristian
desire, that even the eminent philosopher and man of the world from
whose lips it proceeded was approaching a crisis in his own mental
history. Yet it was hard to believe that one whose attitude towards life
was of a calm and all-seeing unconcern, could also be entering upon
his phase of sturm und drang.
Within a few days of being honoured by these confidences, William
Jordan, Junior, received a letter at 43 Milton Street, E.C. It contained
a piece of cardboard upon which was written, Police-Sergeant and
Mrs. Dodson At Home, 21 February. 8 Gladstone Villas, Midlothian
Road, Peckham, S.E. Music and Progressive Games, 7.30. R.S.V.P.
This mysterious communication proved a source of great
bewilderment to its recipient, who for the first time during the twenty
years that comprised his terrestrial history, found himself
approaching the magic portals of social life. During the luncheon
hour of the morning after the arrival of this mandate, Mr. James
Dodson, who had anticipated his perplexity, was fain to enlighten it.
“You’ve got to turn up, you know,” said that gentleman. “We are
having a party of sorts to introduce Chrissie to a few old pals. You’ve
got to turn up, my son; we can’t do without you. It won’t be large, but
it will be select. There will be you and me and Joe Cox, who plays for
Surrey Second Eleven; and we are expecting John Dobbs, who
plays the third fiddle in the orchestra at the Alcazar Theatre—that is
if he can get a night off; if not, he will come on after the show—and
then there will be Chrissie, and her cousin Hermione Leigh, who is a
stunner and no mistake. She is engaged for the new ballet at the
Alcazar. Then there will be one or two quiet unassuming people who
don’t much matter. It doesn’t do, my son, to have a party that is all
celebrities, any more than it does to have a pudding that is all plums.
I have half a mind to ask young Davis, just to show that I bear him no
ill-will for being so tricky—his manner is a good deal above the
average, and he’s a bit of a vocalist—but he knows it, like the cocky
young swine that he is, and there’s no saying that he mightn’t get
uppish and put on side with the pater and mater. No, Luney, I don’t
think it would be safe to risk it. Oh, and then there will be my old
Aunt Tabitha, my guv’nor’s sister. The old girl is a corker, and no
mistake. She was lady’s-maid for years to the Dowager Lady
Brigintop. She’s seen a bit of life, I can tell you. It will make your hair
curl to hear what she has got to say about the British Aristocracy. I
tell you, Luney, this is going to be no mean affair. Evening clothes, of
course.”
The enumeration of the ingredients which were to make up the
evening party to which William Jordan, Junior, had been bidden, and
from whom no refusal would be taken, filled him with consternation,
surprise, and dismay. Such an undertaking was so far outside his
milieu, that for the time being, a journey to the moon or a distant
planet seemed a light thing by comparison.
Yet at first, he had not the courage to damp the ardour of his friend,
Mr. Dodson, by explicitly stating that he had no wish to be present.
That innate courtesy, which the rebuffs to which he was subjected
hourly in the stern school of experience, did nothing to lessen, nor a
steadily ripening judgment to minimize, forbade the unhappy young
man from exposing his craven’s fears to his mentor. All the same, the
problem of how to escape from so dread an ordeal without wounding
the feelings of his friend, was never absent from his thoughts.
“I—I am afraid, Jimmy,” he plucked up the courage to confess on the
evening of the following day, “I—I cannot come to your p-p-party.”
“You have got to come to my p-p-party, my son,” said Jimmy
Dodson, with an amused absence of compromise. “I can take no
refusal.”
“Oh, n-n-n-no!” said the young man in blank despair.
“Oh, y-y-y-yes! you old lunatic,” said his mentor indulgently. “They all
know you are coming, and you don’t know how keen they are to
meet you. When I told Joe Cox you could speak Greek like a native,
you should have seen his face.”
“Oh, b-b-but,” said the young man desperately, “I—I—I am not what
you call—I—I am not what you call ‘up’ in these things!”
“Up, be blowed!” said Mr. Dodson. “You have got to develop your
social instinct a bit. You old lunatic, what have you got to be so
serious about? Haven’t you ever been to a party before?”
“Oh, n-n-no,” said William Jordan, Junior, with a scared face.
“Then it is time you broke the ice,” said his mentor sternly. “Every
chap has got to go out into society. You can’t get on in the world
without you do.”
“Oh, n-n-n-no,” protested the young man feebly.
“It will be good for you, my son,” said his inexorable mentor; “do you
a power of good. You want bringing out badly. You are a regular
D’Orsay to what you were; when I knew you first, I never met your
equal for greenness. Of course you are not very bright now; but if
you only form the habit of going out into society a bit, you are quite
likely to walk away from one or two of the more fancied performers
who are making the running at present. The other day when I told
young Davis that you could speak Greek like a native, he as good as
called me a liar. I’ll tell you what it is, my son; if only you could be got
to think a bit more of yourself; if only you would cultivate the habit of
putting on a reasonable amount of side; if only you would pull up
your socks a bit, you might easily, in your small way, make a bit of a
mark. Of course you will never be Number One in anything; you will
never see your name in large type; you’ll never be a James Dodson,
my son, if you live to be as old as Methuselah, for the very good
reason that you haven’t got it in you. But my advice to you is, form
the habit of going out into society and see what it will do for you. I’ll
guarantee that in one year your old aunt at Hither Green won’t know
her own nephew.”
William Jordan, Junior, however, was not to be shorn of his terrors by
words so suave as these. Yet Mr. James Dodson had quite made up
his mind that the party to be given in honour of his fiancée should not
be baulked of its chief lion, whose surprising attainment in a dead
language Mr. Dodson had published abroad to an equally surprising
extent.
However, as the young man continued to persist in his unreasonable
attempts to evade his responsibilities, a ray of meaning suddenly
suffused the already sufficiently bright intelligence of Mr. James
Dodson.
“Of course, my son, I see, I see!” he exclaimed; “if you have never
been to a party before, you are wondering about your kit. I think I
know you well enough by now, old boy, to ask whether you have got
an evening suit?”
Mr. Jordan was fain to confess that although he was not thinking
about an evening suit—whatever such an article of attire might be—
he did not think he had got an evening suit.
“Own up, if you haven’t,” said Mr. Dodson. “It is nothing to be
ashamed of. Some chaps might think so, but I am not the least bit
snobbish myself. Own up and I shall not think the worse of you.”
Upon this encouraging assurance the young man inquired if there
was any substantial difference between an evening suit and an
ordinary night-gown in which one went to bed.
When in all good faith the young man sought this information, he and
his mentor chanced to be passing the brightly-illumined window of a
Fleet Street tailor. Mr. James Dodson stopped abruptly. With great
earnestness he peered into his companion’s wan and troubled
countenance. For the first time in their intercourse the bona fides of
William Jordan, Junior, were seriously called in question.
“If I thought you were trying it on with me, Luney, my son,” said Mr.
Dodson, with that truculence which he always seemed to hold in
reserve for instant use; “if I thought you were pulling my leg, I should
hit you as hard as I used to before I knew you spoke Greek. But no,
Luney,” Mr. Dodson added, with a sigh of relief, as he continued to
peer into that strange and pale countenance, “you haven’t got it
about you to try it on with me.”
In an admirably practical fashion Mr. James Dodson proceeded there
and then to demonstrate what an evening suit really was by pointing
out that article of attire as displayed on a dummy in the tailor’s
window.
“There you are, my son, there it is, all complete with a white tie and
patent leather shoes,” he said, indicating this mirror of fashion and
mould of form.
William Jordan, Junior, confessed without shame or confusion that
he had neither an evening suit, nor a white tie, nor a pair of patent
leather shoes in his possession.
“If such is really the case,” said Mr. Dodson, “your up-bringing has
been disgracefully neglected. I don’t know what your people can
have been about; but it can be remedied. My young cousin Harry is
about your size, although he is a good deal fatter; I shall get him to
lend you his. Fortunately he has not been asked to the party; he is
only a junior clerk in the insurance, and I thought he could be kept
until the eleventh hour in case any of the swells dropped out. I
expect he will be only too proud to lend you his suit, although you will
have to get a couple of tucks put in the waistcoat and trousers.”
The next day, however, Mr. Dodson had to confess that as far as his
cousin Harry was concerned his expectations were disappointed.
“The confounded youth has arranged to go to a subscription ball on
the same night,” said Mr. Dodson, with an aggrieved air. “Like his
cheek when he knew that I was having a party. I don’t know what we
shall do now, my son. We might have tried young Davis, only
unfortunately in a weak moment I have asked him to come to the
party.”
After a brief period of contemplation, in which Mr. Dodson
thoughtfully reviewed the situation from every point of view, he said,
“I am afraid, my son, there is only one thing to be done. You will
have to get an evening suit of your own. It will be money well
invested if you take to going out into society a great deal.”
That evening Mr. William Jordan received an introduction to the
gentleman who had the felicity of providing Mr. Dodson with his own
immaculate outfit.
“Something neat, you know, Mr. Mosenthal, but not gaudy,” said Mr.
Dodson, as this artist approached his subject in his shirt sleeves,
with a piece of chalk in his mouth and a tape measure in his long
slender fingers. “You have got a difficult subject, Mr. Mosenthal, but
with a bit of tact I expect you will be able to turn him out a
gentleman.”
Mr. Mosenthal assured Mr. Dodson very earnestly that he had not
the least doubt on that score. Armed with this assurance Mr. Dodson
accompanied William Jordan into the shop of the haberdasher next
door for the purpose of buying him a white evening tie.
“If you were left to yourself, my son, I would bet a penny,” said Mr.
Dodson, “that you would buy one of those ties that are tied already;
and if you did, my son, I don’t mind telling you that socially you would
do for yourself at once.”
Having by the exercise of this highly commendable foresight
delivered William Jordan, Junior, from the toils of this imminent and
deadly peril, Mr. Dodson fortified this social neophyte with further
sound advice in regard to his deportment on the devious and narrow
path he was about to tread, and finally committed him to the care of
his green ’bus in Ludgate Circus.
“It is a dangerous experiment,” mused Mr. Dodson, as the ’bus was
lost amid the traffic; “but that young fellow wants bringing out badly. It
will do him no end of good. But how it comes about that he can read
Greek like a native beats me entirely.”
As the fateful twenty-first of February drew near, William Jordan’s
agitation became so great that he would lie sleepless at night,
imaging the ordeal that lay before him in the multiform shapes of a
nightmare. During the last few months he had gained so much
knowledge and hard-won experience that he was no longer so
susceptible to the terrors which had seemed to render his childhood
one long and intricate tissue of horrors. He had begun to understand
that the hordes of “street-persons” were his fellow creatures. He had
gained an insight into their ways, their speech, and even to some
extent into their modes of thought. Such knowledge had rendered an
incomparable service to his sense of security. He was even gaining a
measure of self-confidence. He could even frame whole sentences
of their language on the spur of the moment, and utter them in such
a fashion that they were intelligible to those with whom he had to
consort.
Yet his anticipation that he would be cast among a number of
strange people in a strange place, all of whom would be engaged
upon a business in which he also would have to engage without in
the least comprehending its nature, re-summoned a good deal of his
former state of mind. It was clear from his friend’s attitude towards it,
that “a party” was an affair of some peculiar and special significance.
He divined from his friend’s manner that this was something far
removed from the routine of tying brown-paper parcels with double
knots of string, pasting labels upon them, and dabbing them with
splotches of coloured wax. No, the duties that would be exacted of
him were evidently far other than these, in which he felt he had
already attained to some measure of proficiency.
It was not until the eve of the dread ordeal, when the tailor delivered
his mysterious parcel to 43, Milton Street, E.C., that he took the
white-haired man, his father, into his confidence. Then it was that,
worn out with a distress that he knew to be contemptible, he asked
that guide and comforter to whom he was wont to repair in all
emergencies, whose wisdom was never at fault, whether he could
escape from his ordeal with his own honour inviolate and without
giving pain to one among the street-persons to whom he owed a
debt of gratitude, and towards whom he already felt himself to be
linked in a curious bond of affection.
The white-haired man, his father, did not repress a faint smile, which,
however, was melancholy.
“Thou wilt cease to be Achilles, beloved one,” said his father, “unless
trial is constantly made of thy quality. Thou canst retain thy nobility
only at the point of the sword. Wert thou not Achilles I would say to
thee, shun all such ordeals as these. Being Achilles I would say to
thee, follow in the steps of thy guide wheresoever they may lead
thee through the many and devious purlieus of the out-of-doors
world.”
“Thy wisdom sustains me, my father,” said the young man. “It
searches my veins and exorcises the coldness of my faint spirit
almost like the living breath of the great book itself. I would beseech
thee, my father, to reveal to me a passage that is proper to my pass.”
The young man took down the mighty tome from the shelf, and the
aged man his father opened it at a page worn thin by the intercourse
of many generations. After the young man had perused it in deep
silence for a little while, he knelt for many hours with his scarred
forehead bent upon the faded vellum.
 XXV
During the next day, which was so big with fate, Mr. William Jordan,
Junior, was the recipient of further instruction from his mentor for his
guidance at the forthcoming ceremonial.
“Mind you don’t tuck your napkin into your collar,” said this authority
in the ways of the polite world; “and don’t eat your cheese with your
knife; and don’t drink out of the finger bowls. And mind you turn up
without a speck of dirt on your shoes. I should recommend you to
take a ’bus to St. Paul’s Station; and you had better arrange with
young Davis, who will be on the train, to split a hansom from
Peckham Station to Midlothian Avenue.”
By the intervention of this practical mind, which, of course, by this
time wielded a considerable influence in high places, both G. Eliot
Davis and William Jordan, Junior, were allowed to relinquish their
official duties at six p.m. in order to prepare for the festivities of the
night.
As William Jordan, Junior, tied up the last parcel and stepped down
from his high stool immediately prior to stealing home to array
himself in fear and trembling and a brand new evening suit for the
dread ordeal that awaited him, he heard, for the twentieth time that
day, the voice of his mentor in his ear.
“By the way, Luney, my son,” it said, “I forgot to tell you to wear a
white muffler in the train to keep the smuts off your shirt front.”
With this final injunction in his ears, Mr. William Jordan, Junior, took
his fearful way to 43, Milton Street, E.C., while Mr. James Dodson
“looked round” into the annexe of the Brontë Hotel to inquire of his
fiancée for the third time that day, “what sort of fettle she was in?”
It is not the business of this biography to estimate the precise
quantity of blood and tears that it cost William Jordan, Junior, to
clothe himself in his evening suit and to embellish the same with a
necktie which had to be arranged by his own very inefficient fingers,
and also with a pair of new and excruciatingly tight shoes. It must
suffice to say that when at last, in a state bordering on mental
derangement, he had by some means contrived to array himself in
these articles of civilized attire, to reap as the immediate reward of a
somewhat frantic perseverance a measure of sheer physical
discomfort that he had never before experienced, he utilized the few
minutes that remained to him before he obeyed the decree that sent
him forth to Midlothian Avenue, Peckham, S.E., upon his knees in
the little room by the side of the white-haired man his father.
 XXVI
Upon the wind-swept platform of St. Paul’s Station in the City, while
awaiting the arrival of the 7.7 to Peckham, he was accosted by the
erect and immaculate form of Mr. G. Eliot Davis. The nonchalance of
bearing and air of supreme self-possession of this gentleman were
hardly inferior to those of Mr. Dodson himself.
“Hullo, Luney,” said Mr. Davis, looking up from the precincts of an
inordinately high collar to the face of a gaunt figure which, somewhat
to the annoyance of Mr. Davis, was considerably taller than his own;
“arrayed, I see, like Solomon in all his glory. Feeling pretty cheery,
eh, and full of parlour tricks? I must say these functions don’t amuse
me at all. Music and progressive games!—I like more knife and fork
work myself. Come on and have a sherry and bitters before we
start.”
Mr. William Jordan had already acquired that rudimentary wisdom of
the “out-of-doors” world, that “when you are in Rome you must do
like the Romans.” He had also on his way in the omnibus determined
to follow out this fundamental truth, as far as in him lay, to the letter.
Therefore, with great docility he accompanied Mr. Davis to the buffet
to have a sherry and bitters. It is not necessary to state that even in
the act of swallowing that mysterious compound he had ample cause
to rue his superhuman resolve.
It was with a sensation of being poisoned that in the wake of his
mentor for the time being he invaded a second-class smoking
compartment, already overcrowded with emphatic street-persons,
smoking equally emphatic tobacco.
Upon their arrival at Peckham, the young man recalled Mr. Dodson’s
injunctions and very timorously advanced the suggestion that they
should take a hansom to Midlothian Avenue. Mr. Davis received the
suggestion with loud-voiced derision.
“Not likely,” said that gentleman. “I am not a bloated plutocrat. You
should have sported a pair of goloshes the same as me.”
William Jordan, Junior, was confronted accordingly with the extreme
course of having to take a hansom for himself, and of inviting Mr.
Davis to accept a seat therein. Mr. Davis’s tone of unmistakable
rebuff, however, had quelled him so effectually that he could not find
the courage to do either of these things. Accordingly he was obliged
to pick his way with great trepidation along divers unclean
thoroughfares to the frank amusement of his companion, who, in
bringing to his notice innumerable pools of water and stretches of
mud upon the route, abjured him earnestly “to be careful of his
‘pumps.’”
Upon the stroke of half-past eight Mr. Davis executed an
ostentatious tattoo upon the knocker of No. 8, Gladstone Villas,
which was situate amid two narrow rows of ill-lighted, meagre, lower
middle class respectability. They were received with great cordiality
by Mr. Dodson himself, who in immaculate evening attire appeared
to considerable advantage.
“Hullo, Luney, old boy,” said Mr. Dodson, “so here we are! Give me
your hat and coat and then come in here, and I’ll introduce you to
Coxey and John Dobbs.”
With a dull terror in his soul Mr. William Jordan, Junior, resigned
himself implicitly into the care of his mentor, so that almost without
being aware of how he came there, he found himself in an
exceedingly small room in the presence of several other
immaculately attired gentlemen; and these, although entire strangers
to him, were of an extremely critical cast of countenance. He could
understand nothing of what was taking place, although presently he
awoke to the fact that these gentlemen were grasping him by the
hand.
“You’ll have a finger before we go up-stairs to the ladies?” said Mr.
Dodson, pouring a coloured liquid into a tumbler, to which he added
an even more mysterious liquid that went off with a hiss. “Say when.”
“Oh n-n-n-no, please!” gasped Mr. William Jordan; for a bitter
recollection still abided within him of his misadventure at the railway
station buffet.
Hearing this note of somewhat exaggerated appeal the other
gentlemen could hardly repress a guffaw, particularly when incited
thereto by a knowing wink from Mr. Davis.
“Never mind them, Luney old boy,” said Mr. Dodson, who as he
spoke smiled archly at his guests. “They don’t know any better. They
are not accustomed to mix with men of intellect on equal terms.”
“That is the truest word you’ve spoken this week, Jim Dodson,” said
Mr. John Dobbs of the Alcazar Theatre, a heavy and sombre young
man with very long and thick black hair and a voice that seemed to
proceed from his boots.
“Close it, Jimmy,” said Mr. Joseph Cox, a small and dapper young
gentleman with a very easy and cordial manner.
“One of these days he will be the best slow left-arm bowler in
Surrey,” said Mr. Dodson in an impressive aside to Mr. William
Jordan, and in a voice sufficiently audible for Mr. Joseph Cox to hear.
Mr. Dodson, having to the frank amusement of those gentlemen
assembled, exercised his blandishments in vain to induce Mr.
William Jordan “to have a finger before going up-stairs to see the
ladies,” at length proceeded to conduct the young man thither
without this aid, which he and his friends deemed most essential to
the accomplishment of so grave an ordeal.
“Don’t be nervous, old boy,” said his mentor kindly, as he took him
firmly by the arm; “at the worst they can’t do more than eat you, and
if they do they will wish they hadn’t.”
“Are—are my—my sh-shoes all right?” stammered Mr. William
Jordan in a hoarse whisper.
“Right as rain, my son,” said his mentor. “And Mosenthal has turned
you a treat. You look a regular poem in blank verse. It wouldn’t
surprise me a bit if they do want to eat you.”
As Mr. Dodson placed his hand on the drawing-room door the
terrible sensations of that long year ago when the same hand was on
the door of Mr. Octavius Crumpett again assailed the young man.
Only to-night these emotions seemed to be more intense. And of late
he had come fondly to imagine that never again would he become
the prey of weaknesses so pitiful.
His brain was dazed and his eyes were almost dark when bright
lights and colours and a pageant of female loveliness was first
unfolded to his gaze. It is true that the first of these ladies whom he
had to encounter was not very beautiful: a fat, elderly, unemphatic
kind of lady whose clothes looked odd, and who wore a kind of
irrelevant dignity which somehow did not seem to fit her.
“Mater, this is Mr. William Jordan, the young sportsman I am always
telling you about,” said Mr. Dodson in a cheery voice.
“Pleased to meet you, young man,” said this lady, shooting out a fat
hand as a highwayman might shoot out a horse-pistol. However, Mr.
Jordan had the presence of mind to grasp it, and at the same time to
bow low.
Beside her was a lady dressed severely in black. She sat very
upright, and held a pair of glasses in front of her which she used with
devastating effect. In mien she was aged and severe; in manner she
was sharp and staccato, and with no more geniality than a piece of
ice.
“Aunt Tabitha,” said Mr. Dodson, “Mr. Jordan. Mr. Jordan—Aunt
Tabitha.”
This very formidable lady turned such a cold and resolute gaze upon
the young man that sharp little shivers seemed to envelop him. It
seemed to congeal the half-formed words on his lips. All the same
he was able to go through the formality of almost bowing to the
ground.
The next lady to whom his attention was directed was extremely
resplendent and also extremely decolletée. In spite of her air of
magnificence, her blazing jewels, the gorgeous texture of her skin
and her clothes, there seemed to be something curiously familiar
about her. The mystery was solved, however, almost before it had
had time to become one.
“Chrissie,” said Mr. Dodson, “what price our fat friend?”
“Ain’t he just utter,” said the gorgeous creature, giving Mr. Jordan a
playful flick with her fan. “I am sure mother ought to be proud of her
boy to-night.”
As Mr. Jordan bowed very low before her, the gorgeous lady made a
very remarkable and visibly distorted “face” at another gorgeous lady
who sat by her side.
In sheer splendour and profuse magnificence all paled their
ineffectual fires before that of this fourth lady who sat by Chrissie’s
side. When the young man first ventured to look at this apparition of
female loveliness, the power of breathing was almost denied to him.
In beauty she was ravishing; divinely tall apparently, and most
divinely fair. She had the look of a goddess: young, brilliant, queenly,
with a noble fire in her glance. Her clothes in their ample majesty
and her jewels in their lustre made those of Chrissie appear almost
tawdry by comparison. Never until that moment had William Jordan
divined, not even in that remote and ill-starred adventure of his
childhood, that actual authentic goddesses still walked the earth,
clad in their ravishing flesh and blood. As this vision burst upon his
gaze William Jordan could scarcely repress an exclamation of awe
and wonder and delight.
“Miss Hermione Leigh,” said Mr. Dodson, “Mr. Jordan; Mr. Jordan—
Miss Hermione Leigh.”
To the exaggerated deference of which she was the recipient on the
part of Mr. William Jordan, this divinity returned a curt and aloof nod,
which might hardly have been interpreted as a nod at all; and at the
same moment she made a gesture to Chrissie which partook of the
nature of putting out her tongue.
“Ain’t he marvellous?” said Miss Hermione Leigh to her friend
Chrissie in an eloquent aside. “Where did Jimmy dig him up? Has he
taken out a licence for him?”
“A gilt mug,” said Chrissie in the matter-of-fact tone that never
forsook her.
“Oh, oh!” said Miss Hermione Leigh, as if sudden light had suffused
her robust intelligence; “that explains it.” She turned an arch glance
upon Mr. William Jordan. “Not going to run away, cocky, are you?”
said the divinity. “Ought to be room for you and me on the same
settee.”
She patted the sofa on which she sat with a white-gloved paw.
Mr. Jordan felt his ears to be burning. A fiery haze was floating
before his eyes. He was trembling in every limb. With a supreme
effort he managed to take a seat on the sofa, and as close to the
goddess as he dare.
Three minutes of tense silence passed. Both ladies appeared to
expect him to say something. Of this fact, however, Mr. William
Jordan was not at all conscious. His excitement, his nervousness,
his self-conscious effacement had yielded place to a kind of religious
awe. He, William Jordan, was slowly beginning to realize that
unawares he had had the unspeakable temerity to enter the
presence of the white-armed Hera. As far as he was concerned, the
occasion was not one for speech, even had he been in a physical
condition to indulge in such an act of vandalism. He had quite
enough to do to glance at her furtively, sideways, and to try to catch
the sound of her breath.
At last the goddess looked at him very boldly and directly, right into
his shy and bewildered eyes that were set so deep.
“Well?” she said.
By a wonderful effort of the mind, which was yet purely involuntary,
and was only rendered possible by his almost occult faculty of a
never-failing courtesy, the young man grasped the fact that the
goddess was under the impression that he had dared to address a
remark to her.
“I—I b-beg your p-p-p-pardon,” he stammered painfully. “I—I d-don’t
think I—I s-said a-anything.”
These words and particularly the mode of their utterance caused the
goddess to titter in a very audible and unmistakable manner. Her
companion followed her example.
“He d-doesn’t t-think he s-said a-anything,” said one lady to the
other, “he d-doesn’t t-think he s-said a-anything.”
Miss Hermione Leigh then turned to Mr. William Jordan.
“You are funny,” she said.
Before Mr. Jordan could find a fitting rejoinder to an indictment which
seemed to baffle him completely, his friend Mr. Davis sauntered up to
the sofa. His hands were in his pockets; his demeanour was one of
inimitable nonchalance.
“Hullo!” exclaimed Chrissie, “look what’s blown in! How’s Percival?”
“So, so,” said Mr. Davis, with an air of polite weariness.
“I s’pose you know Hermione?”
“Only on Saturdays,” said Mr. Davis, with a humility that seemed to
be finely considered, “when I draw my screw.”
“Oh come, Percy,” said Miss Hermione Leigh, with amiable protest, “I
reckon to know you at least two days a week since you have had a
rise in your salary.”
“Not you,” said Mr. Davis, with quiet good nature. “One supper at the
Troc of a Saturday with a half-bottle of Pommery, and it is all blewed
bar the washing money. You know very well, Hermione, you cut
mugs like me dead when we come sneaking out of Lockhart’s all the
rest of the week.”
“Not quite so much of the mug, Percy,” said Miss Hermione Leigh,
“and not quite so much of the Pommery. You don’t average three
bottles a year.”
Before Mr. Davis could deny this impeachment in adequate terms,
the voice of Mr. Dodson was heard proclaiming from the piano at the
other end of the room that Mr. Percival Davis, the celebrated tenor,
would sing the no-less celebrated song, “I’ll sing thee songs of
Araby.”
“I will do so,” said Mr. Davis, with great promptitude. “This is where I
get my own back.”
Mr. Davis rendered that song in a quite admirable manner. When the
deserved applause which greeted it had subsided, and Mr. Dodson
had informed the company that owing to the unparalleled length of
the programme, and the unprecedented quantity of talent that was
present that evening, no encores would be granted in any
circumstances whatever, Miss Hermione Leigh informed her
companion that “although Percy was dirt mean, he could sing,” a
judgment to which Chrissie accorded her imprimatur.
Mr. Dodson then announced that Mr. John Dobbs of the Alcazar
Theatre, and of the London and Provincial Concerts, would render
that heart-rending melody, “The Lost Chord,” which Mr. Dobbs
immediately proceeded to do. As this melancholy-looking and large-
eyed and profuse-haired young man drew marvellous strains from
two pieces of wood and a few strings Mr. William Jordan’s thoughts
strayed a moment from the thrall of the goddess. He sat with his
hands clasped, his gaunt form as tense as an arrow drawn to the
string. In his eyes was a dreamy rapture, and in the centre of each
was a large stealthy tear. His whole being was entranced. The two
ladies in whose vicinity he was, nudged one another furtively and
together perused that strange countenance with great satisfaction to
themselves.
Upon the subsidence of the enthusiasm which Mr. John Dobbs’s
effort called forth, Mr. Dodson announced that Miss Hermione Leigh
of the “Peace and War Ballet” of the Alcazar Theatre, would render
that touching melody, “Ta-ra-ra-boom-de-ay,” with dance
accompaniment, as performed by her before most of the bald-heads
of Europe, not to mention those of Bethnal Green. This
announcement was received with such favour by the gentlemen
present that immediately they broke into a cheer.
With immense good nature Miss Hermione Leigh swept across the
room to the piano, and with the aid of the variously accomplished Mr.
Dodson himself, who “scratched the ivories” by request, and also
with the aid of Mr. Davis, who turned over the music after, as he
expressed it, “he had cleared the course for the big race” by driving
back the company, regardless of age and sex, from within an area of
at least eight feet of the piano, and in spite of the fact that Aunt
Tabitha, who was compelled to move her chair, stared at Mr. Davis
through her glasses with a stony glare, and said at the top of a loud
harsh voice, “That is a very unmannerly young man”—a remark
which set the remainder of the company in roars of laughter, in which
Mr. Davis joined more loudly than anybody else.
Yet what can describe or even remotely indicate the emotions which
surged over Mr. William Jordan, Junior, when through eyes dim with
ecstasy he beheld the divine form of the goddess, who, as she rose
to her full height beside the piano and broke into a not particularly
melodious warble, approximated more nearly in physique and
appearance to his Olympians than any creature he had looked upon
hitherto. It did not matter to William Jordan what strange and
fantastic words fell from that full, white throat, or what fantastic
gyrations that divine form subsequently went through; it was not for
such as himself remotely to comprehend the speech and gestures of
those immortal ones of whom she was a daughter. He sat entranced,
unable to move, to think, or even to realize the wild emotions of
which so suddenly he had become the prey.
When the goddess, a little out of breath, and also flushed, and
therefore looking more brilliant than ever, swept back to the sofa to
his side, a kind of religious awe mounted in Mr. William Jordan as he
peered upwards into that beautiful, smiling, good-natured face.
“O-o-oh!” he exclaimed softly.
Hearing the exclamation, both Chrissie and the goddess looked
towards the source of it in unconcealed amazement. They then
looked at one another. As the goddess sank upon the sofa
somewhat heavily she broke out into a loud laugh.
“Too funny!” she said, and proceeded to fan herself with great vigour.
Mr. Dodson then informed the company that Mr. James Dodson, of
the St. James’s Restaurant Bar, Piccadilly, would admit any member
of the audience into the mysteries of the three-card trick free of
charge, yet made an exception in favour of Mr. Percival Davis, who
was not in need of instruction.
“Jimmy,” said his fiancée in an authoritative tone, “sing I Want One
like Pa had Yesterday.”
When Mr. Dodson had rendered this ballad with immense success,
he called upon Joseph Cox, Esquire, of Surrey Second Eleven, and
also of the leading public-houses within a mile radius of Kennington
Oval, to give his world-famous imitation of a white mouse walking
upon its fore-paws backwards.
Mr. Joseph Cox, with great natural modesty, disclaimed any special
aptitude for a feat of this delicate nature, but, rather than be a source
of disappointment to the company, he would undertake either to give
an imitation of a hen laying an egg, or, if preferred, he would stand
on his head while any member of the audience counted thirty.
Upon the proposal by Mr. Joseph Cox of these two extremely
honourable alternatives, Mr. Dodson proceeded, as he phrased it, “to
put it to the meeting.” With surprising unanimity “the meeting”
decided that Mr. Cox be called upon to attempt the hazardous feat of
standing on his head while Miss Tabitha Dodson counted thirty. After
a little delay, which was caused by Miss Tabitha Dodson declining in
most uncompromising terms to be associated in an official capacity
with “such a piece of tomfoolery”—which resulted in the hostess,
Mrs. Dodson, being nominated for this onerous duty—Mr. Joseph
Cox, with a solemnity of mien which filled the audience with the
greatest possible delight, proceeded to poise himself upon his apex.
When the enthusiasm which this feat excited had subsided in some
measure, it was restored almost to its original fervour by Mr.
Dodson’s announcement of the event of the evening. Mr. William
Jordan, the distinguished scholar and England’s future poet laureate,
would recite the first book of Homer’s Odyssey in the original Greek.
When Mr. William Jordan discovered that he was the source of some
almost hilarious enthusiasm, he cried in tragic accents, with a kind of
horror in his deep-set eyes, “Oh n-n-n-no, I c-c-c-c-couldn’t! indeed I
c-c-c-c-couldn’t!”
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