Unity Banking and Saving Company v. Bettman, Trustee of Holzman & Co., Bankrupts

Citations

• 217 U.S. 127
• 30 S. Ct. 488
• 54 L. Ed. 695
• 1910 U.S. LEXIS 1948

Syllabus

<p>As against the true owner, a right of property cannot be acquired by means of a forged written instrument relating to such property, except when the owner has by laches or gross or culpable negligence induced another who proceeds with reasonable care to act in belief that the instrument was genuine or would be so recognized by the owner.</p> <p>Where the owner of property which passes only by written transfer has left it with another who has wilfully forged the name of. such owner to a transfer of the property, the person taking it acquires no right thereto merely because the property was left with party committing the forgery.</p> <p>Quaere, how far a broker having lawful possession of stock certificates belonging to a customer, the legal title to which has not been transferred to him, may retain the same as security for any debt balance of such customer.</p>