Falk v. A. F. Schmitz Alaska Dredging & Mining Co.

Citations

• 44 Wash. 612
• 87 P. 927
• 1906 Wash. LEXIS 889

Syllabus

<p>Corporations — Stockholders—Assignment op Stock — Breach of Agreement to Pay for Stock — Right of Trustees to Cancel Stock Certificate. Where stock in a corporation is assigned to the owner, and a certificate duly issued to another, who thereupon becomes the owner thereof, the trustees have no power to forfeit and cancel the stock for the failure of the vendor stockholder to pay the company for the stock, or for failure of the vendee to perform any contract he may have had with his vendor.</p>