Naglee v. Pacific Wharf Co.
California Supreme Court
Appeal from the Fourth Judicial District. This is an action to recover the value of eighteen shares of stock issued by the defendant, a corporation organized under the Act of 1853, to W. P. C. Stebbins, the assignor of plaintiff. The complaint alleges an assignment to plaintiff, and a refusal by defendant to transfer the stock to plaintiff on its books, and recognize him as the owner of the shares.
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Appeal from the Fourth Judicial District. This is an action to recover the value of eighteen shares of stock issued by the defendant, a corporation organized under the Act of 1853, to W. P. C. Stebbins, the assignor of plaintiff. The complaint alleges an assignment to plaintiff, and a refusal by defendant to transfer the stock to plaintiff on its books, and recognize him as the owner of the shares. The defense is, that prior to the demand by plaintiff to transfer on the books the shares assigned to him, they had been sold to a bona fide purchaser at sale on execution against the assignor. The…
1Opinion of the CourtNorton, J.
The facts in this case are the same as those in the case of Weston v. The Bear River and Auburn Water and Mining Co. (5 *533Cal. 186) in which it was decided that the assignment by merely a delivery of the certificate of stock, without a transfer on the books of the corporation, was not sufficient to defeat the rights of an attaching creditor. On the same case coming before the Court again, (6 Cal. 425) when the fact appeared that the purchaser at the sale of the stock under the lien obtained by the attachment, knew at the time of his purchase that the stock had been transferred by an assignment…
2Cases cited3 opinions
- Weston v. Bear RiverCalifornia Supreme Court · 1855
- Weston v. Bear River & Auburn Water & Mining Co.California Supreme Court · 1856
- Strout v. Natoma Water & Minning Co.California Supreme Court · 1858
3Cited by11 opinions
- In re the Election of Directors of the Argus Printing Co.North Dakota Supreme Court · 1891
- Parrott v. ByersCalifornia Supreme Court · 1871
- Nat. Bank Etc. v. Western Pac. Ry. Co.California Supreme Court · 1910
- MurphyWisconsin Supreme Court · 1881
- City & County of San Francisco v. HartnettCalifornia Court of Appeal · 1905
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