Mahaney v. Walsh
Appellate Division of the Supreme Court of the State of New York
Action by James M. Mahaney against John D. Walsh. The court directed a verdict in iavor of defendant, and plaintiff moves for a new trial on exceptions ordered to be heard by the appellate division in the first instance. Granted.
1Opinion of the CourtWard, J.
The transfer of the 75 shares of stock from the defendant to Mary Mahaney, the testatrix, conferred upon her the legal title to those shares, and no transfer of the stock upon the books of the corporation was necessary as between the defendant and her. But, as between Mary Mahaney and the corporation, in order to entitle her to receive dividends, and enjoy the benefits of her stock, the proper transfer should have been made upon the books of the corporation. Until that was done, the defendant was the nominal owner of the stock, and treated as the trustee of the stock for Mary Mahaney. Johnson…
2Cases cited17 opinions
- Boyce v. . BrockwayNew York Court of Appeals · 1865
- Leitch v. . WellsNew York Court of Appeals · 1872
- McAllister v. KuhnSupreme Court of the United States · 1878
- Payne v. ElliotCalifornia Supreme Court · 1880
- Merritt v. . SeamanNew York Court of Appeals · 1852
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3Cited by4 opinions
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