Welsh v Nilsson and Others - [1961] NZLR 644

Company law — Shareholder seeking to sue for benefit of company — Need to explain absence of company as plaintiff — No action lies where act complained of can be ratified by majority of shareholders — Plaintiff owning half shares — No majority to impose wishes on him — Absence of company sufficiently explained.

Property law — Laches — Action between mortgagor and mortgagee — Need for promptitude where security a business undertaking.

Property law — Mortgage — Mortgagee in possession — Action for accounts — Need for offer to redeem — No need when mortgagee has become owner of security — Laches — Importance of promptitude when security a business undertaking.