Cushman v. Thayer Manufacturing Jewelry Co.
New York Court of Appeals
Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of New York, affirming a judgment in favor of plaintiff, entered upon a decision of the court on trial at Special Term. (Reported below, 7 Daly, 330.) This action was brought to compel plaintiff to transfer upon its books certain shares of stock to plaintiff1, and to issue a new certificate for the same to her.
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Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of New York, affirming a judgment in favor of plaintiff, entered upon a decision of the court on trial at Special Term. (Reported below, 7 Daly, 330.) This action was brought to compel plaintiff to transfer upon its books certain shares of stock to plaintiff1, and to issue a new certificate for the same to her. The original certificate of the stock was issued to Peter B. Cushman, plaintiff's husband; by its terms it was traasferrable only upon the books of the company upon surreiider of the…
1Opinion of the CourtMiller, J.
The right of the plaintiff to maintain this action depends upon the question whether an equitable action will lie to compel a transfer of stock by a corporation to the owner of the same, or the plaintiff must seek a remedy by an action at law for damages. The latter action is frequently of no avail, and does not always afford complete and full redress. It is easy to see that a party may have become the owner or purchaser of stock in a corporation, which he desires to hold as a permanent investment, which may be at the time of but little value, in fact without any market value whatever, and…
2Cases cited9 opinions
- McNeil v. . the Tenth National BankNew York Court of Appeals · 1871
- Commercial Bank v. KortrightCourt for the Trial of Impeachments and Correction of Errors · 1839
- New York & New Haven Railroad v. SchuylerNew York Court of Appeals · 1865
- Seymour v. DelanceyNew York Court of Chancery · 1822
- Seymour v. DelancyNew York Supreme Court · 1824
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3Cited by62 opinions
- New England Trust Co. v. AbbottMassachusetts Supreme Judicial Court · 1894
- Jones v. Missouri-Edison Electric Co.Court of Appeals for the Eighth Circuit · 1906
- Allen-West Commission Co. v. GrumblesCourt of Appeals for the Eighth Circuit · 1904
- Travis v. . Knox Terpezone Co.New York Court of Appeals · 1915
- McMillan, Ltd. v. WARRIOR DRILLING & ENG.Supreme Court of Alabama · 1987
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