Naglee v. Pacific Wharf Co.

Citations

• 20 Cal. 529
• 1862 Cal. LEXIS 75

Syllabus

<p>An assignment of shares of stock, in a corporation formed under the Act of 1853, by a mere delivery of the certificate of stock without a transfer on the books of the corporation, is invalid as against a subsequent purchaser of the stock at sale on execution against the assignor, without notice of the assignment.</p> <p>Weston v. The Bear Timer and Auburn Water and Mining Co. (5 Cal. 186) affirmed on the principle of stare decisis.</p>