ABSTRACT
Guinness v Land Corporation of Ireland (1882) CA The objects of the company as stated in the memorandum were land cultivation. The capital clause of the memorandum stated that the capital was divided into Class A shares and Class B shares. The articles of association provided that, if necessary, capital from the Class B shares should be applied in the payment of a 5% dividend on the Class A shares. One of the Class B shareholders applied to the court for a ruling on the effect of this provision in the articles.
