Bowen v. Imperial Theatres, Inc.

The Chancellor.

The defendant based its refusal to issue a new certificate of stock to the complainant on the ground that the shares evidenced by the certificate had been illegally issued to F. S. Stover,' the complainant’s transferor, and now resists the prayers of the bill on the same ground coupled with the further essential averment that the complainant, when he purchased from Stover, had notice of the infirmity in Stover’s title to the stock.

This requires that I first pass upon the legality of the stock in Stover’s hands, and then, if it be found that the issue to him was illegal, that I…