Morrison v. Gold Mountain Gold Mining Co.

Citations

• 52 Cal. 306
• 1877 Cal. LEXIS 103

Syllabus

<p>4Contract of Corporation. — An agreement among parties owning a mino, and who expect to incorporate, hut have not done so, that a person is entitled to two thousand five hundred shares of the stock of the company, is not the agreement of the corporation.</p> <p>Action for Converting Corporation Stock.—A person who has not the legal title to the stock of a corporation cannot maintain an action against the corporation for converting it.</p> <p>Conversion or Shares of Stock by Corporation.—An order of the president of a corporation drawn upon himself as president to transfer to a person a certain number of shares of stock of the corporation, followed by the refusal of himself and the secretary to deliver the stock, does not amount to a conversion of the stock by the corporation.</p>