Fort Madison Lumber Co. v. Batavian Bank
Supreme Court of Iowa
Appeal from Lee Gireuit Court. Action in equity to compel the defendants to interplead, in order that their respective claims against each other, and against the plaintiff company, may be determined. The facts appear to be that one "Weston was at one time the owner of certain shares of stock in the plaintiff company, and the same stood in his name on the books of the company.
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Appeal from Lee Gireuit Court. Action in equity to compel the defendants to interplead, in order that their respective claims against each other, and against the plaintiff company, may be determined. The facts appear to be that one "Weston was at one time the owner of certain shares of stock in the plaintiff company, and the same stood in his name on the books of the company. In 1883 he borrowed money of the defendant,' the Batavian Bank of LaCrosse, Wisconsin, and assigned to it certificates of his stock as collateral security; but no transfer of the stock was made upon the books of the…
1Opinion of the Court
Adams, Ch. J.:The question whether a transfer of stock in an incorporated company in this state, when not entered upon the books of the company, is valid, as against attaching creditors of the assignor without notice, is now presented for the first time in this court. Its determination must depend upon the view which should be taken of the meaning of the provision found in section 1078 of the Codé, and which, is as follows: “The transfer of shares is not valid, except as between the parties thereto, until it is regularly entered on the books of the company, so as to show the name of the…
2Cases cited7 opinions
- Black v. J. W. Zacharie & Co.Supreme Court of the United States · 1845
- Northrop v. Newtown & Bridgeport Turnpike Co.Supreme Court of Connecticut · 1821
- Mooar v. WalkerSupreme Court of Iowa · 1877
- Sabin v. Bank of WoodstockSupreme Court of Vermont · 1849
- MurphyWisconsin Supreme Court · 1881
2 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Nat. Bank Etc. v. Western Pac. Ry. Co.California Supreme Court · 1910
- Moore v. Marshalltown Opera-House Co.Supreme Court of Iowa · 1890
- Ottumwa Screen Co. v. StodghillSupreme Court of Iowa · 1897
- Perkins v. LyonsSupreme Court of Iowa · 1900
- Des Moines Loan & Trust Co. v. Des Moines National BankSupreme Court of Iowa · 1896
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