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CHASE MANHATTAN BANK v. PATTERSON-EMERSON-COMSTOCK OVERSEAS, INC.

204 A.2d 193 (1964)

The CHASE MANHATTAN BANK, a banking corporation of the State of New York, Plaintiff, v. PATTERSON-EMERSON-COMSTOCK OVERSEAS, INC., a corporation of the State of Delaware, Defendant, Thomas H. Emerson, Intervening Defendant.

Court of Chancery of Delaware, New Castle.

October 16, 1964.

Attorney(s) appearing for the Case

John P. Sinclair, of Berl, Potter & Anderson, Wilmington, and Milbank, Tweed, Hadley & McCloy, New York City, for plaintiff.

Clyde M. England, Jr., of Killoran & Van Brunt, Wilmington, for defendant Patterson-Emerson-Comstock Overseas, Inc.

Howard L. Williams, of Morris, James, Hitchens & Williams, Wilmington, for intervening defendant Thomas H. Emerson.

MARVEL, Vice Chancellor.

The complaint herein alleges that as a result of a purchase made at a public sale held on June 28, 1963 plaintiff became the owner of forty shares of the corporate defendant's fifty dollar par value stock originally issued to Thomas H. Emerson on February 18, 1957. Plaintiff also contends that on July 11, 1963 it tendered to the corporate defendant the stock certificate acquired as a result of such purchase accompanied by a stock power signed...

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