1931 (7) TMI 16

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....ts from acting or purporting to act as directors of the plaintiff company. The two defendants were directors of the company on February 10, 1931, on which day there was a general meeting of the company, at which each of them verbally gave notice to the company in general meeting resigning his office of director, and the company in general meeting resolved to accept the resignation. The articles of....

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....is mind afterwards. There is no locus poenitentiae. Notwithstanding the provisions of Article 34 for the formal determination of the contract, the parties can agree informally to put an end to it by oral agreement. Morris v. Baron & Co. shows that although one cannot vary a written contract by parol agreement one can put end to such a contract by agreement which renders its fulfilment impossible. ....

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....ting to the company that he resigns. In my judgment, the answer based on Article 34 is not a good one. I see no reason in law why the contract of service between the company and its directors should not be terminated by the same means as that by which the contract of service between two individuals may be terminated, and I see no ground in law for saying that where a written contract has been made....