https://www.taxtmi.com/caselaws?id=96634 A mortgage-bond executed on behalf of a company was held unauthorised because the articles required deeds to be signed by the managing director, secretary and working director, yet the instrument was signed only by the secretary and working director, and no special authority to borrow was proved. The company was therefore not bound by the execution. The protection available to outsiders dealing with a company did not assist the mortgagee, as a party is taken to have notice of the Companies Act and the articles of association, and the defect would have been revealed on proper inspection. Ratification and equitable charge were not entertained because they were not tried as issues. The mortgage-bond could not be enforced against the company or its property. en-us Tue, 16 Jan 1934 00:00:00 +0530 Mon, 09 Jan 2012 18:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96634 A mortgage-bond executed on behalf of a company was held unauthorised because the articles required deeds to be signed by the managing director, secretary and working director, yet the instrument was signed only by the secretary and working director, and no special authority to borrow was proved. The company was therefore not bound by the execution. The protection available to outsiders dealing with a company did not assist the mortgagee, as a party is taken to have notice of the Companies Act and the articles of association, and the defect would have been revealed on proper inspection. Ratification and equitable charge were not entertained because they were not tried as issues. The mortgage-bond could not be enforced against the company or its property. Case-Laws Companies Law Tue, 16 Jan 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96634