New Jersey Law Reports Volume 22

New Jersey Law Reports Volume 22

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1851 edition. Excerpt: ...under examination, public policy and commercial convenience plainly require that the oflicer. should inform a defendant, if within his jurisdiction, that he takes his stock under the writ; also, that he should go to the office of the company, and, by giving notice of his execution there to some oflicer, and requiring a certificate, as secured to him by the fifth sectionof the act, he should obtain a control over the shares, and should demonstrate his intention from that time forward to appropriate them, in obedience to the command of his writ. ' Without such ostensible and certain appropriation of the property, an inventory and return should not sufficiently indicate a levy upon this species of effects. They might lead to. great losses and to frauds, and materially embarrass the sales and transfers of stock. Such would not be a taking of the property, within either the letter or the spirit of the act. The Revised Statutes of 1846 make bank notes belonging to.a defendant in execution liable to be taken upon a fi. fa. Would an oflicer make a suflicient levy upon a one hundred dollar bank bill, so as to hold it against a transferee of the debtor, by an inventory and return, the money remaining in the debtor's possession subject to his control? Such a doctrine could not be gravely insisted on. In the case before us, the sheriff having omitted to do those acts which were requisite to make his levy sufficient, I am of opinion that Crozer &, Moore were entitled to recover the dividends declared upon the six shares of stock, after their purchase of them from Clow. Let the judgment of the Common Pleas be aflirmed, with costs. A supplement to the Camden lien law extended the law over the whole city, and repealed the section more

Product details

  • Paperback | 266 pages
  • 189 x 246 x 14mm | 481g
  • United States
  • English
  • black & white illustrations
  • 1236962796
  • 9781236962799