Julio Godreau Co. v. Registrar of Guayama

This is an administrative appeal from the refusal of the Registrar of Property of Gfuayama to record a deed of bargain and sale (compra-venta) wherein Julio G-odreau La-nausse conveyed to Julio Godreau Co., a domestic corporation, certain lots of land for the expressed price of $39,000 and received as an equivalent of such price ninety-three shares of stock of such company at the nominal value of $1,000 each. The note of the registrar is as follows:

“Record of this instrument is hereby denied inasmuch as the •contract of bargain and sale of the land covered by the saíne is forbidden to the…