Weston v. Bear River & Auburn Water & Mining Co.
California Supreme Court
Appeal from the District Court of the Sixth Judicial District. The plaintiff filed his bill against the Bear River and Auburn Water and Mining Company, and S. W. Lovell, 0. H. Swift, Michael Reese, and C. E. Buckingham, alleging that on February 4th, 1854, the plaintiff purchased at sheriff’s sale, under certain executions against Lovell, certain stock of Lovell in the said company; that at the time of said date, the stock stood in the name of Lovell on the books of the…
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Appeal from the District Court of the Sixth Judicial District. The plaintiff filed his bill against the Bear River and Auburn Water and Mining Company, and S. W. Lovell, 0. H. Swift, Michael Reese, and C. E. Buckingham, alleging that on February 4th, 1854, the plaintiff purchased at sheriff’s sale, under certain executions against Lovell, certain stock of Lovell in the said company; that at the time of said date, the stock stood in the name of Lovell on the books of the company j that shortly after the sale, plaintiff applied to the officers of the company to have the stock transferred to him…
1Opinion of the Court
The opinion of the Court was delivered by Mr. Chief Justice Murray.
Mr. Justice Heydenfeldt concurred.
A party who purchases at sheriff's sale, stocks of an incorporation, knowing that the certificates of such stock have been previously hypothecated, is chargeable with notice of such fact, and takes subject to the claim of the pledgee. Neither the incorporation law of 1850, or of 1853, was intended to cover a' case of this kind, but apply only to transfers and purchases in good faith without notice.
In the case of Weston v. The Bear River Water and Mining Company, decided at the April term,…
2Cited by14 opinions
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