Chase Manhattan Bank v. Patterson-Emerson-Comstock Overseas, Inc.

Marvel, Vice Chancellor.

The complaint herein alleges that as a result of a purchase made at a public sale held on June 28, 1963 plaintiff became the owner of forty shares of the corporate defendant’s fifty dollar par value stock originally issued to Thomas H. Emerson on February 18, 1957. Plaintiff also contends that on July 11, 1963 it tendered to the corporate defendant the stock certificate acquired as a result of such purchase accompanied by a stock power signed by Thomas H. Emerson with the request that a new certificate be issued in the name of plaintiff’s nominee. Defendant having…