Edwards v. Beugnot

Citations

• 7 Cal. 162

Syllabus

<p>Where shares of stock in a corporation have been regularly transferred as security for a loan, the mortgagee is the only proper garnishee in a suit against the mortgagor, and attachment on his interest in the corporation.</p> <p>In such a case, the corporation is no longer privy to the interest of the mortgagor, which is a mere equity in the hands of the mortgagee.</p>