The owners of a gold mine put it under offer to the defendant at a certain price for a certain time. He being an uncertificated insolvent, entered into an agreement with the plaintiffs that they should find the money to purchase the mine and should give him a certain proportion of shares in a company to be formed to work it. He also at the time of this arrangement represented to the plaintiffs that one of the vendors of the mine would not part with his interest unless he obtained an eighth interest in any company formed to work it, and the plaintiffs agreed to let the defendant have an eighth of the shares to fulfil his alleged promise to such vendor. The sale to the plaintiffs was accordingly effected and the company formed, the defendant receiving the proportion of the shares agreed to be given to him, and also the one-eighth of the shares which he had represented that such vendor required. As a matter of fact such vendor had not required any such interest in the company, and the defendant retained the one-eighth of the shares for himself. On action brought by the plaintiffs to recover one-eighth of the shares from the defendant,