Wenban Estate, Inc. v. Hewlett

In this action in equity the plaintiff sought and secured a judgment against the defendants declaring 500 of the plaintiff’s first mortgage bonds, of the par value of $500,000, to be null and void and requiring the defendants to surrender and deliver them up to plaintiff, upon the ground that said bonds were never issued by the corporation plaintiff nor delivered to the defendant Hewlett, who pledged or transferred them to the other defendants, and that no consideration for their issuance and delivery, if any, was ever given or received as required by the fundamental and statutory law of the…