Chapman v. Pettus

In February, 1913, T. W. Pet-tus purchased 150 shares of the capital stock of the First State Bank & Trust Company of Taylor, Tex., of the total par value of $15,-000, and a certificate thereof was issued by the bank to Pettus. A few weeks later Pet-tus assigned said certificate to “Mrs. T. W. Pettus,” reciting in the written assignment that the same was made “for value received,” and authorizing transfer of the stock to be made on the books of the banking corporation. This was done in due course, and the stock was reissued to and in the name of “Mrs. T. W. Pettus.” The Pettuses were husband…