KALLOP v. McALLISTER

No. 312, 1995.

678 A.2d 526 (1996)

William M. KALLOP, Defendant Below, Appellant, v. Brian A. McALLISTER, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: June 26, 1996.


Attorney(s) appearing for the Case

Samuel A. Nolen (argued), and Robert J. Stearn, Jr., Richards, Layton & Finger, Wilmington; Of Counsel: Clinton B. Fisher and Steven R. Schoenfeld, Haythe & Curley, New York City, for appellant.

Wayne N. Elliott (argued), and Bruce E. Jameson, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington; Of Counsel: James E. Tolan and Rodney M. Zerbe, Dechert Price & Rhoads, New York City, for appellee.

Before WALSH, HOLLAND, and HARTNETT, JJ.


HARTNETT, Justice.

In this interlocutory appeal, we affirm the Court of Chancery's holding that the transfer of a share of corporate stock was valid although only a constructive delivery of the share took place. In so holding, we find that Article 8 of the Uniform Commercial Code (UCC), as it existed in 1979 in Delaware, did not displace the doctrine of constructive delivery that is a part of the Delaware common law.

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