Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

WM. CORY & SON, LTD. v. COMMISSIONERS OF INLAND REVENUE

[1965] 1 Lloyd's Rep. 313

HOUSE OF LORDS

Before Lord Reid, Lord Morris of Borth-y-Gest, Lord Hodson, Lord Pearce and Lord Donovan

Revenue-Stamp duty-Conveyance or transfer on sale-Transfer of shares under option agreement before exercise of option - Whether transfers chargeable for stamp duty as conveyances on sale - Whether option agreement a contract for sale - Stamp Act, 1891, Sects. 54, 59-Meaning of "on sale".

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