Coit v. Humbert

Citations

• 5 Cal. 260
• 1855 Cal. LEXIS 102

Syllabus

<p>A party by pledging negotiable securities transferable by delivery, loses all right to the securities, when transferred by the pledgee in good faith to a third party.</p> <p>The pledgee, in such a case, should be treated in the transaction as the agent of the owner, and the owner should be bound by his acts in the premises.</p>