Slemmons v. Thompson

Citations

• 23 Or. 215
• 31 P. 514

Syllabus

<p>Mandamus — To Compel Transfer of Coepobate Stock.— Under Hill’s Code, § 3229, providing that the stock in all private corporations is to be deemed personal property, and subject to attachment, levy, and sale, and the corporation, in case of such sale, required to make the necessary transfer thereof to the purchaser on the books of the company, mandamus will not issue commanding a transfer to a purchaser at execution sale, unless his right to the possession thereof is clear and unquestionable.</p> <p>Idem — Code, § 593 — Market Value of Stock — Remedy at Law. — Mandamus will not issue against a corporation in Oregon except for the neglect of the proper officers to perform some duty which the law enjoins and where there is no plain and adequate remedy at law. The fact that corporate' stock has no market value, does not affect the law-remedy of damages for refusing to transfer it on the stock books; but where the officers of the corporation have conveyed away its property and rendered it apparently insolvent, there is no adequate remedy at law, and mandamus will issue to compel a transfer of stock to a purchaser at an execution sale. Durham, v. Monumental M. Co. 9 Or. 41, distinguished.</p>