W. was induced by misrepresentation to contract to take and pay for shares in a company. He had paid half the amount payable on the shares when he discovered the falsity of the representation. He thereupon effectively disaffirmed the contract. The company subsequently went into liquidation. W.’s name had not been entered in the register of members, but it appeared in a return of allotments, filed with the Registrar-General under sec. 96 of the Companies Act 1915, as that of the allottee of the shares.