Greenwood v. Cochrane

G. W. Greenwood, deceased, during his lifetime, purchased live shares of stock in a Delray, Florida, bank, accepted a transfer written on the back of the stock certificate in the customary place, and took physical possession of the certificate. No transfer of the stock was made on the books of the bank. After purchase and acceptance of the stock the bank failed, and the liquidating agent of the bank sought to collect from the decedent’s administrator a 100 per cent, stock assessment which was levied against all stockholders. The seller of the stock and the administrator of the purchaser are…