Holbrook v. . New Jersey Zinc Co.
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, in favor of the plaintiff, entered upon an order denying motion for a new trial and directing judgment upon verdict. This action was brought to recover damages for a refusal of the defendant to transfer, on its books, fifty shares of its stock, of which the plaintiff held the certificates.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, in favor of the plaintiff, entered upon an order denying motion for a new trial and directing judgment upon verdict. This action was brought to recover damages for a refusal of the defendant to transfer, on its books, fifty shares of its stock, of which the plaintiff held the certificates. The facts disclosed were, that one William T. Riggs, on the 16th day of June, 1859, held two certificates of the stock of the defendant, a foreign corporation, of twenty-five shares each. These were a part of a…
1Opinion of the Court
Dwight, C.
The principal inquiry in the present case is, whether the plaintiff is a holder of the stock of the Hew Jersey Zinc Company in good faith and for value.
It cannot now be denied, that if a corporation having power to issue stock certificates does in fact issue such a certificate, in which it affirms that a designated person is entitled to a certain number of shares of stock, it thereby holds out to persons who may deal in good faith with the person named in the certificate, that he is an owner and has capacity to transfer the shares. This proposition does not rest on any view of the…
2Cases cited6 opinions
- N.Y. N.H.R.R. Co. v. . SchuylerNew York Court of Appeals · 1865
- Leitch v. . WellsNew York Court of Appeals · 1872
- Kortright v. Buffalo Commercial BankNew York Supreme Court · 1838
- Ledwich v. . McKimNew York Court of Appeals · 1873
- Scudder v. Van AmburghNew York Court of Chancery · 1839
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3Cited by63 opinions
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- Albany County Savings Bank v. McCartyNew York Court of Appeals · 1896
- Allen v. South Boston RailroadMassachusetts Supreme Judicial Court · 1889
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
- Guilford v. Western Union Telegraph Co.Supreme Court of Minnesota · 1894
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