Naglee v. Pacific Wharf Co.
Naglee v. Pacific Wharf Co.
Opinion of the Court
The facts in this case are the same as those in the case of Weston v. The Bear River and Auburn Water and Mining Co. (5
It would be an unprofitable labor to investigate how far the decisions of other States conflict with ours, or whether the apparent conflict arises from the circumstance that those decisions, many of them, are made upon the effect of by-laws of a corporation, restrictive of the general laws of the State relating to the transfer of property—while our decision rests upon a general statute. The decision of our own Court must control, unless we are required to overrule it. We think the decision has stood too long as a guide for transactions of this nature to be now disturbed.
Judgment affirmed.
Reference
- Full Case Name
- NAGLEE v. PACIFIC WHARF COMPANY
- Cited By
- 11 cases
- Status
- Published
- Syllabus
- 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. Weston v. The Bear Timer and Auburn Water and Mining Co. (5 Cal. 186) affirmed on the principle of stare decisis.