Warren v. Nix
Supreme Court of Arkansas
Appeal from Lafayette Circuit Court; Jacob M. Carter, Judge; 1. Rogers, having ceased to be a stockholder on January 8, 1909, by sale of his stock to J. O. Smith on that day, is not liable. He transmitted to Smith his certificate of stock, duly signed in blank — did all that he was called upon to do to have the stock transferred to the purchaser.
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Appeal from Lafayette Circuit Court; Jacob M. Carter, Judge; 1. Rogers, having ceased to be a stockholder on January 8, 1909, by sale of his stock to J. O. Smith on that day, is not liable. He transmitted to Smith his certificate of stock, duly signed in blank — did all that he was called upon to do to have the stock transferred to the purchaser. The transfer of a certificate of stock, with the power of attorney signed in blank by the holder, transfers to the purchaser the stock so evidenced, in the ordinary course of business. Angelí & Ames, Corp. (10 ed.), § 564; 1 Morawetz, Corp. § § 164,…
1Opinion of the CourtFraubnthar, J.
This was a suit brought by Isaac L. Nix, as treasurer of Lafayette County, to recover from the stockholders of an incorporated bank the public funds belonging to said county which he as such treasurer had deposited in said bank, which later became insolvent and failed to pay same on demand.
In 1908 said Nix was elected treasurer of said county, and duly qualified as such officer on November 1, 1908. His predecessor in office, prior to that date, deposited the public funds of said county in the Merchants & Farmers Bank of Lewisville, Ark., a duly incorporated bank, and on that day gave to said…
2Cases cited11 opinions
- Whitney v. ButlerSupreme Court of the United States · 1886
- State v. McFetridgeWisconsin Supreme Court · 1893
- Harper v. CarrollSupreme Court of Minnesota · 1896
- Foster v. RowMichigan Supreme Court · 1899
- Hunt v. HopleySupreme Court of Iowa · 1903
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3Cited by24 opinions
- Lawson v. BakerCourt of Appeals of Texas · 1920
- Bannock County v. Citizens Bank & Trust Co.Idaho Supreme Court · 1933
- Bank of Midland v. HarrisSupreme Court of Arkansas · 1914
- Phillips v. Yates Center National BankSupreme Court of Kansas · 1916
- Covey v. CannonSupreme Court of Arkansas · 1912
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