Johnston v. Laflin’s Empirical Analysis

Citation profile

27 federal appellate · 3 district · 47 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 117 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““Sisares In the capital stock of associations, under the national banking law, are salable and transferable at the will of the owner. They are, in that respect, like other personal property. The statute recognizes this transferability, although it authorizes every association to prescribe the manner of their transfer. Its power in that respect, however, can only go to the extent of prescribing conditions essential to the protection of the association against fraudulent transfers, or such as may be designed to evade the just responsibility of the stockholder. ■ It is to be exercised reasonably. Under the pretense of prescribing the manner of the transfer, the association cannot clog the transfer with useless restrictions, or make it dependent upon the consent of the directors or other stockholders. * * * The entry of the transaction on the books of the bank, where stock is sold, is required, not for the translation of the title, but for the protection of the parties and others dealing with the bank, and to enable it to know who are its stockholders, entitled to vote at their meetings and receive dividends when declared. * * * Purchasers and creditors, in the absence of other knowledge, are only bound to look to the books of registry of the bank. But as between the parties to a sale, it is enough that the certificate is delivered with authority to the purchaser, or any one he may name, to transfer it on the books of the company, and the price is paid. If a subsequent transfer o”

   3 later decisions quote this exact passage · from the majority
   e.g. Scott v. Pequonnock National Bank of Bridgeport · Eubank v. Bryan County State Bank of Caddo

2. ““The transferability of shares in the national hanks is not governed by different rules from those which are ordinarily applied to the transfer of shares in other corporate bodies. The power of, attorney indorsed on the certificate is usually written or printed, with a space in blank for the name of the attorney to be inserted, for the accommodation of the purchaser. * * * The validity of a sale and its completeness must be determined by the rela-¡ tion which the contracting parties at the time openly bear to each other. “Of course, the whole case here would be changed if the sale by Latlin had/ not been made in good faith, but was made merely to evade his just responsibility as a stockholder, or to work a fraud upon other stockholders or cred-1 itors of the bank.””

   2 later decisions quote this exact passage · from the majority
   e.g. Leyson v. Davis · Swords v. Page