Hunt v. Drug, Inc.

Pennewill, C. J.,

delivering the opinion of the Court:

The question presented to the Court is whether the fact that certificates endorsed in blank were stolen and embezzled from the rightful owner by a dishonest employee, without negligence of the owner, can be shown in order to defeat the claims of a bona fide purchaser for value ?

It seems to be conceded by both sides that the decision in this case depends upon the law of the State applicable thereto. The plaintiff contends that the law of the State where the transfer of the stock certificates occurred must control, and that such transfer was…