Wells v. Price
Wells v. Price
Opinion of the Court
— There is only one question presented by the record in this ease, to wit: Did the plaintiffs, by purchase at execution sale of the lands mentioned in the complaint, acquire with said lands, and as appurtenant thereto, the shares of stock owned by the execution defendants in that certain corporation known as the Dpper South Field Irrigation Company ? The allegations of the complaint, which we must consider as true, the same being confessed by the demurrer, show: That said lands were attached under a writ of attachment that issued in the action brought by said plaintiffs against said execution defendants, Francis Wilcox and George Wilcox, on the seventeenth day of October, 1891, but did not attach the shares of stock held in
The contention of plaintiffs, and the theory upon which this suit was brought, is that said shares of stock were appurtenant to said lands, and passed with said lands under execution sale. Aside from general well-established rules of law which forbid the sanction of sgid contention, it is directly opposed to the statutory law of this state. Under the provisions of section 4306 of the Revised Statutes, “shares which the defendant may have-in the stock of any corporation or company” may be attached. Subsection 4, section 4307 of the Revised Statutes, is as follows “Stock or shares or interest in stock or shares, of any corporation or company must be attached by leaving with the president, o-r other head of the same, or the secretary, cashier, or other managing agent thereof, a copy of the writ, and a notice
Reference
- Full Case Name
- WELLS v. PRICE
- Cited By
- 5 cases
- Status
- Published
- Syllabus
- Shares of Stock in Corporation — Attachment—Execution.— Shares of stock in a corporation can only be subjected to a debt by seizure under attachment or execution in the manner prescribed by the statutes relating to such seizure. Same — Shares of Stock in Irrigation Corporation not Appurtenant to Land. — Shares of stock owned by the execution defendant in an irrigation corporation are not appurtenant to the lands owned by such execution defendant although be irrigates such lands with water from a canal owned by such corporation. (Syllabus by the court.)