Reference

Cited By

1 case

Status

Published

Syllabus

Trusts and trustees—Transfer of stock—Consideration—Evidence— Equity. A bill in equity to secure the return oí a number of shares of stock of a corporation will be sustained, where the evidence shows that the defendant liad given to the plaintiff a certificate in writing that he held the stock subject to the order of the plaintiff, and the plaintiff claims that the stock had been transferred to defendant without consideration, and the defendant’s claim that he received the stock as compensation for services rendered in relieving plaintiff from liability as a partner in a certain firm, is met by proof showing that the defendant had nothing whatever to do, either with the exemption of the plaintiff from liability for the firm’s debts, or with the making of a settlement with the creditors of the firm to the advantage of the plaintiff.