Ophir Investment Co. v. Alexander Realty Corp.

Citations

• 117 Wash. 637
• 201 P. 897
• 1921 Wash. LEXIS 889

Syllabus

<p>Corporations (49) — Stock—Issuance of Certificate — Persons Entitled and Remedies — Conversion. Where a receipt for payment of a subscription to capital stock recited the stock was “to be issued as soon as stock book has been opened,” it was, in legal effect, a promise given and accepted that, as soon as the stock book was opened, a certificate would be issued, and in the absence of a demand and refusal of a certificate at any subsequent date, no action against the corporation for conversion of the stock will lie.</p>