Ashton v. Heydenfeldt

Citations

• 124 Cal. 14
• 56 P. 624
• 1899 Cal. LEXIS 929

Syllabus

<p>Action to Recover Shares of Stock—Claim and Delivery—Pleading. An action of claim and delivery will not lie to recover shares of stock in a corporation, where the proceeding is not aimed at the certificate representing the shares, and it is not mentioned or described in the complaint. “Stock” in a corporation is an j incorporeal, intangible thing, not capable of identification or t seizure under the writ, in such an action.</p> <p>Id.—Conversion—Demand and Refusal.—A complaint averring merely a demand and refusal, without alleging a conversion of the stock, is not sufficient as a complaint for its conversion.</p> <p>Id.—Restitution of Stock Distributed under Reversed- Decree—Sufficiency of Complaint. — A complaint showing that the stock sought to be recovered by the plaintiffs as executors of the will of a decedent, was the property of the decedent, and was distributed to one of the defendants under a decree of distribution of the estate which was afterward reversed upon appeal, and that the sitock was transferred to a codefendant without valuable consideration, and averring a demand upon the defendants for the return of the stock, and their refusal to return the same, states a cause of action in equity for restitution of the stock distributed under the reversed decree, or the payment of its value.</p> <p>Id.—Effect of Reversal of Decree—Right to Restitution.—Upon reversal of a decree under the enforcement of which property has been delivered, the matter stands as if no decree had ever been made, and the parties entitled to its possession, if no decree had been made, are entitled to restitution thereof.</p> <p>Id.—Equity Jurisdiction—Enforcement of Delivery—Compensation. The suit being in equity to enforce the restitution of the property, after reversal of the erroneous decree, the superior court has power to compel the delivery of the property received by the defendanit undeir the decree, even though it be of a character such that it cannot be seized under a wri