ABSTRACT
For many years the well - known company lawyers Mr Palmer and Mr Buckley, Q.C., have advocated rival systems of account for ascertaining "what are profits of a company." These have been described as the single and double account systems. Neither of the writers originated the method he upholds, although great credit is due to both for having contributed to the issue being finally settled in point of law by the decisions in Lee v. Neuchatel Asphalte Co., and Verner v. General and Commercial Investment Trust, referred to hereafter.
