The defendants' history of the case is as follows Parker says he was not in an impecunious state in 1903, that in that year he and a Mr. Wattie founded the China Land & Finance Ca. of which King was one of the Directors, He admits that the agreement was entered into between the Shanghai Life Insurance Com-; Pany and himself, King, Tsou San-yuen.
But be says the agreement was jeancelled by mutual consent on June 18, 1906, as the consideration of raising the capital by the parties to the agreement had not been cartied out. He said that he himself Portuguese Courts, legal representative of King Chun-kee a deceased Portuguese subject, and having under the Order in Council half per cent. to each on the pre- consented and did not protest mium income of the company in/*gainst the cancellation, that Tsou consideration of service rendered," San-yuen was dead and that he has and "in consideration of the above /"ever heard of any claim against submitted to the jurisdiction of the British Court now claims, under a covenant in a deed dated March 10, 1905, 2) per cent. on the premium income of the defendant company, the Shanghai Life Insurance Ca., Ld., for the period of 10 years from the date of the deed.
The defendants deny that she is the legal personal representative of the deceased as far as the British cannot sue as such ex out probate in the B appoints someone to represent her ad item in this Court, They further state that on or about June 18, 1906, the deed was avoided by mutual consent and that in any event the Statute of Limitations, 21 James l.c.. 16 (1623) applies, namely, that under the Act 1623 Section 3 "All actions of account, all actions of debt grounded upon contract without specialty must be brought within, six years after they become due."
Kine's Conyexion with Parker.
The history of this case is a curious one and a most difficult one The story of the.plaiutiff, briefly is_as follows King who was.a European but had become to all intents and-purposes a Chinese marries somewhere about 1900 the present plaintiff, a Chinese woman, a former Chinese wife having died some short time before. In 1903 King was a direc-for of China Land & Finance Ca. that King then met a R. H. Parker who was then in_an impecunious condition, King assisted him financially and in July, 1903, they are both directors of China Land Finance Ca. commission that the three named parties will raise the capital of 'I's. 100,600 and assist all possible in the}! working of the business." Parker says that King never applied for payment under the agreement after it was cancelled and- he did not tell King to wait as the company had not enough capital. The company had plenty of money and was} flourishing. But he says that King did borrow money from time to time on mortgage and it appears from r{the cash book that in January 14, 1907, just after. King had sold his shares in the Shanghai Life he ber-rowed on mortgage Tls. 10,000 from the company. King also borrowed from the company for one month on security September 30, 1907, Tls. 2,734 which he paid back on November 27, 1907. January 13, 1903, Ts. 20,000 which he paid back September 5, 1908, and other sums from time to time from the company.
King dies on October 11, 1915, without having received anything under the agreement or enforced his claim.
But the plaintiff his widow states! that just before he died he gave her some documents from the safe amongst them the copy of the 19¢3_ agreement.
Text read from the printed page and cleaned; old type leaves the occasional error.