Malone v. Johnson

Citations

• 5 Cal. Unrep. 575
• 47 P. 579
• 1897 Cal. LEXIS 967

Syllabus

<p>Pleadings—Amendment—Changing Cause of Action.—A complaint alleged that on April 1, 1891, defendant gave his note to plaintiff, and to secure payment thereof delivered a stock certificate which he had assigned to plaintiff on March 31, 1887. The prayer was for sale of the stock to apply on the overdue note, and for a personal judgment for any deficiency. An amended complaint alleged that on March 31,, 1887, defendant gave his note to plaintiff, and delivered said certificate as security, and that on April 1, 1891, a new note was given in place of the old one, and the certificate redelivered to plaintiff as security for the new note. The prayer was the same, except that plaintiff waived judgment for deficiency. Held, that the amendment did not set up a different cause of action.</p> <p>A Pledge of Corporate Stock by Indorsement and Delivery of the certificate is valid as between the parties.</p>