United States Fidelity & Guaranty Co. v. Coca-Cola Co.

Appellate Division of the Supreme Court of New York

United States Fidelity & Guaranty Co. v. Coca-Cola Co.

49 A.D.2d 849, 374 N.Y.S.2d 106, 18 U.C.C. Rep. Serv. (West) 199, 1975 N.Y. App. Div. LEXIS 11008

Appellate Division of the Supreme Court of the State of New York·Decided October 21, 1975·Published·Cited by 1 cases

Opinion

Order, Supreme Court, New York County, entered May 5, 1975, denying plaintiff’s motion for summary judgment, unanimously affirmed, with $60 costs and disbursements to respondents. In this action brought to recover money damages for alleged conversion of certain stock certificates owned by plaintiff’s assignor, W. E. Hutton & Co., plaintiff moved for summary judgment pursuant to CPLR 3212 against defendant Kleiner, Bell and Company, Inc. Study of the record discloses that an issue of fact exists as to the good faith "observance of reasonable commercial standards” by said defendant in accepting these "street name” certificates for transfer (Uniform Commercial Code, § 8-318). Under section 8-318 of the Uniform Commercial Code, prior case law relevant to bearer paper is now applicable to stock certificates and registered bonds. Concur—Markewich, J. P., Kupferman, Murphy, Lupiano and Nunez, JJ.

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Order, Supreme Court, New York County, entered May 5, 1975, denying plaintiff’s motion for summary judgment, unanimously affirmed, with $60 costs and disbursements to respondents. In this action brought to recover money damages for alleged conversion of certain stock certificates owned by plaintiff’s assignor, W. E. Hutton & Co., plaintiff moved for summary judgment pursuant to CPLR 3212 against defendant Kleiner, Bell and Company, Inc. Study of the record discloses that an issue of fact exists as to the good faith "observance of reasonable commercial standards” by said defendant in accepting these "street name” certificates for transfer (Uniform Commercial Code, § 8-318). Under section 8-318 of the Uniform Commercial Code, prior case law relevant to bearer paper is now applicable to stock certificates and registered bonds. Concur—Markewich, J. P., Kupferman, Murphy, Lupiano and Nunez, JJ.

United States Fidelity & Guaranty Co. v. Coca-Cola Co., 49 A.D.2d 849, 374 N.Y.S.2d 106, 18 U.C.C. Rep. Serv. (West) 199, 1975 N.Y. App. Div. LEXIS 11008 (N.Y. Ct. App. 1975).

Pincite

49 A.D.2d 849 (United States Fidelity & Guaranty Co. v. Coca-Cola Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

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