Mandlebaum v. North American Mining Co.
Michigan Supreme Court
Case reserved from "Wayne Circuit. On the 4th day of December, 1851, the defendant was an incorporated Mining Company, duly organized under and by virtue of the laws of this State.' On that day, the defendant, by its officers, issued and delivered to one TI. J". Buckley, a resident of the City of Detroit, a certificate of stock of said Company.
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Case reserved from "Wayne Circuit. On the 4th day of December, 1851, the defendant was an incorporated Mining Company, duly organized under and by virtue of the laws of this State.' On that day, the defendant, by its officers, issued and delivered to one TI. J". Buckley, a resident of the City of Detroit, a certificate of stock of said Company. In December, 1852, Buckley sold said stock to one William A. Pratt, and at the same time ■ delivered said certificate, with a blank power of attorney attached, signed and sealed and subscribed by two witnesses. The name of no attorney or assignee was…
1Opinion of the Court
By the Court,
Martin, J.
The certificate which was issued to Ingersoll by the defendants, became the property of the plaintiff by purchase, and was transferred to him in the manner in which it is found by the Court below. Such instruments are usually negotiated in market. The endorsement was in blank; the power of attorney remaining to be filled up by whatever holder might desire an entry upon the books of the Company of the transfer of the stock, and the issue of a new certificate to himself. By this endorsement and delivery, the transfer was, under our statute, valid, as between the parties…
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