Terms implied in a contract of sale of shares between a seller and purchaser.
• That the buyer will pay the price of the shares.
• That the seller has the right to sell.
• That the purchaser shall indemnity the seller against any calls made after the date of the contract.
• The seller will give to the purchaser a genuine share certificate required to enable the purchaser to be registered as member.
• The seller will not do anything preventing the buyer from having the transfer registered or delay the process.
• The seller will compensate the buyer for any calls or liability which may arise in respect of the shares sold.