Sherwood v. Meadow Valley Mining Co.

Citations

• 50 Cal. 412

Syllabus

<p>Stock in a Coepokation.—Certificates of stock in a'corporation are not negotiable securities, in a commercial sense, but are mere evidences of the holder’s title to a given share in the property and franchises of the corporation.</p> <p>Idem.—If a corporation issues to an owner of shares of stock a certificate transferable on the books of the company by indorsement and surrender of the certificate, and he indorses the same and then loses it, and it comes into the hands of a bona fide purchaser for value, such purchaser acquires no right to the stock.</p>