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High Court Wellington
6, 26 July 1973
Wilson J
6, 26 July 1973
Wilson J
Agency — Contract — "As trustees for a company to be formed" — Persons so contracting liable — Taking of possession by company does not ratify contract.
Trusts and trustees — Trustees — Beneficiary entering into possession of trust assets takes burden as well as benefit, but liable only to extent of trust assets and not personally liable in excess of trust assets.