Ocean National Bank of Kennebunk v. Diment

VIOLETTE, Justice.

This appeal arises out of a contest over the ownership of 200 shares of Sears, Roebuck & Co. (Sears) common stock. At the close of the evidence in a jury trial in Superior Court, York County, directed verdicts were entered for defendants Joseph Gordon Diment and Mary Diment on both the plaintiff’s complaint and the defendants’ counterclaim. We deny the appeal.

I

In 1971, to assist their son in obtaining a bank loan from the Colonial Trust Company (Colonial), the Diments signed a Hypothecation Agreement authorizing the son to pledge 200 shares of their Sears stock as…