stock certificates
Defined in 2 dictionaries — Case Law, Cyclopedic (1922)
Definitions from Case Law
From 229 U.S. 391 - National Safe Deposit, Savings & Trust Co. v. Hibbs · 1913Most cited · 214 citing opinions
Stock certificates of all kinds have been constructed in a way to invite the confidence of business men, so that they have become the basis of commercial transactions in all the large cities of the country, and are sold in open market the same as other securities. Although neither in form or character negotiable paper, they approximate to it as nearly as practicable... Whoever in good faith buys the stock, and produces to the corporation the certificates, regularly assigned, with power to transfer, is entitled to have the stock transferred to him.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
A written acknowledgment by the corporation of the interest of a shareholder in the corporate property and franchises. It expresses the contract between the shareholder and the corporation and his co-shareholders. It is in the nature of an instrument evidencing a chose in action, but, properly speaking, it is not a chose in action. 5 Fletcher Cyclopedia Corporations 6604.