Derry v Peek (1889) 14 App Cas 337

Facts: An Act incorporating tramways company provided that carriages may, with consent of the Board of Trade, be moved by steam power. Directors of the company issued a prospectus claiming the right under the Act to use steam power. Statement was false. Plaintiff (Pl) bought shares in reliance on prosecutes. The Board of Trade refused consent and the company wound up.

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