Question
Marabelle owns 100 Shares of stock of the Lindy Chocolate Corporation. She sells her stock to Dennis and delivers him: (1) her stock certificate for
Marabelle owns 100 Shares of stock of the Lindy Chocolate Corporation. She sells her stock to Dennis and delivers him: (1) her stock certificate for 100 shares and (2) a written, signed assignment of the 100 shares. The assignment form printed on the back of the share certificate is left blank and is not signed. Dennis refuses to take the certificate and the assignment on grounds that Marabelle must fill in and sign the assignment form. He is worried the ass t without it being filled out or signed, it will make the transfer of the stock invalid.
Is he correct? Why or why not?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started