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Author Question: Procuring cause of the sale can be based on an advertisement. Indicate whether the statement is ... (Read 52 times)

fox

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on: Jun 24, 2018
Procuring cause of the sale can be based on an advertisement.
  Indicate whether the statement is true or false

Question 2

Manis owns 100 shares of stock of the Linquist Corporation. She sells her stock to Sosnik and delivers to him: (1 ) her stock certificate for 100 shares and (2 ) a written, signed assignment of the 100 shares to Sosnik. The assignment form printed on the back of the share certificate is left blank and is not signed. Sosnik refuses to take the certificate and the assignment on the ground that Manis must fill in and sign the assignment form on the stock certificate to make the transfer of stock effective. Is he correct?


amanda_14

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Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

No. Manis could have made the transfer in the manner requested by Sosnik, but she was not required to do so, and the transfer is just as effective when made in the manner followed by her. It makes no difference to the corporation or the transferee which method of making the transfer is followed. Therefore, Sosnik cannot object to Manis' choice of method.


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