Westminster National Bank v. New England Electrical Works
Supreme Court of New Hampshire
Bill in Equity, praying that the Electrical Works be ordered to issue to the plaintiffs a certificate of stock. Transferred from the November term, 1904, of the superior court by Pike, J. The suit was begun as an action at law, but was afterward amended by the filing of this bill in its stead. Some of the stockholders of the Electrical Works were also made defendants. The plaintiff corporation is located and does business in Massachusetts.
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Bill in Equity, praying that the Electrical Works be ordered to issue to the plaintiffs a certificate of stock. Transferred from the November term, 1904, of the superior court by Pike, J. The suit was begun as an action at law, but was afterward amended by the filing of this bill in its stead. Some of the stockholders of the Electrical Works were also made defendants. The plaintiff corporation is located and does business in Massachusetts. The Electrical Works was incorporated under the laws of South Carolina, but has its principal place of business in this state. About the time of the…
1Opinion of the CourtWalker, J.
No question is made that as against Bibber the-bank became the owner of the stock in February, 1901, whenBibber transferred and assigned to it his certificate. Fie did all it was possible for him to do to vest the absolute title to the stock in his vendee. “ It seems too clear for argument, that the ownership of the shares passes from the seller to the buyer by force of the contract of sale, and not by operation of law; and if that be so, the buyer’s title, so far as the seller is concerned, attaches the-moment this contract is fully consummated between them.” Scripture v. Soapstone Co., 50…
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