TEXAS,

(References are to Sections.)

statute regulating transfer of stock, 213.

pledgor's interest made subject to execution, 390.

TIME

of the essence of contract for extension, 129a.

TIME OF PAYMENT,

extension of, 129, 130.

must be supported by sufficient consideration, 130a.
usurious agreement for, 131.

suspends right of pledgee to sell, 615.

of collateral paper by pledgee, 719.

TITLE,

of the pledgor, 52–65.

impliedly warranted by pledgor, 52.

possession not conclusive of, 54.

pledgor can not give better than he has, 55, 59, 60.
possession of negotiable paper presumptive of, 57.
pledgor need not have absolute, 58.

one having life interest may pledge that, 59.
administrator may pledge property of estate, 61.
guardian can not pledge ward's property, 61.
vendor in possession may pledge, 62.
conditional buyer can not pledge, 63.
common carrier can not pledge, 64.
agent to sell can not pledge, 65a.
married woman may pledge, 66.

one partner may pledge firm's property, 69.

TITLE DEED,

pledge of, must be foreclosed in equity, 643.

TRANSFER,

of shares of stock must be in writing, 152.

of stock absolute in form may be shown to be in pledge, 154.

what constitutes at common law, 158.

governed by general principles of common law, 159, 160.
statutes of doubtful meaning relating to will not control, 160.
unrestricted, convenience of, 161.

unauthorized by-law restricting, 162.

in blank warrants genuineness of certificate, 167.
By delivery of certificate as between the parties, 168-171.
title passes as between the parties, 169, 170.

some courts hold that only equitable title passes, 171.

TRANSFER-continued.

(References are to Sections.)

By delivery as between the parties and the corporation, 172-176.

not entered upon the books does not bind corporation, 172, 173.
provision for recording is designed for safety of corporation, 174.
record necessary to confer legal title as against corporation, 175.
not effectual without surrender of old certificate, 176.

By delivery as between parties and their creditors, 177–220.
whether legal as well as equitable title passes, 177.
sale on execution against registered owner, 178.
regulated by statute in many states, 180-220.
policy that should govern, 220.

Of bills of lading, how made in pledge, 261–265.
Of warehouse receipts, how made in pledge, 298–302.
Of shares of stock,

when involuntary, does not change title, 464.

whether negligence in owner to execute in blank, 465, 473.
by owner, confers indicia of ownership, 466, 467.

whether it passes legal or equitable title, 468.

TROVER,

by pledgee against pledgor for property delivered for special purpose, 45.
the usual remedy for conversion of pledge, 562-580.

by pledgor to recover value of stock illegally sold, 748.

TRUSTEE,

See CONVERSION.

holding securities in trust and not in pledge, 10a.

holding stock in pledge not liable as stockholder, 445–456.
holding stock can not pledge for his own debt, 474.

stock issued to "the estate of " a deceased person, 475.

stock certificate indorsed by guardian, 475a.

one of two trustees can not pledge trust property, 476.

when corporation liable for permitting transfer by, 477.

using stock to secure his own debt with knowledge of pledgee, 478.
pledging stock certificates which do not indicate any trust, 479.
exceptional rule in Maryland and California as to word "trustee," 480.
distinction between pledge by executor and pledge by trustee, 481.

of insolvent debtor, has like power of disposal as executor, 484.

other persons holding fiduciary relations pledging stock, 490.
case of pledge of bonds by president of a railroad, 491.

TRUSTEE PROCESS,

pledgor's interest not generally subject to, 373.
statute in Maine, 381.

(References are to Sections.)

U

UNITED STATES,

statute exempting fiduciary holders of stock in national banks from per-
sonal liability as stockholders, 445a.

USAGE,

can not make bills of lading negotiable, 250.

of brokers to treat certificate of stock as negotiable, 462.

of brokers to pledge customer's stock, 503, 723.

of bankers to sell negotiable notes taken as collateral, void, 651.

can not authorize broker to sell stock without notice, 723.

in possession under conditional sale can not pledge, 63.

VENDOR,

in possession may pledge, 62.

lien of, upon goods pledged by delivery of warehouse receipt, 306. '

VERMONT,

statute regulating transfer of stock, 215.

pledgor's interest made subject to attachment and execution, 391.

VIRGINIA,

statute regulating transfer of stock, 216.

statute relating to negotiability of warehouse receipts, 294e.

VOTING,

upon pledged stock.

See STOCKHOlder.

W

WAGERING CONTRACTS,

for purchase or sale of stocks, 500a.

broker liable for losses on such contracts, 500a.

WAIVER,

(References are to Sections.)

of notice in sale of collateral stocks, 732.
minor may revoke, 733.

of illegal sale by accepting surplus, 745.
by bringing action against pledgee, 746.

WAREHOUSE RECEIPTS,

pledge of by contract to deliver, 10.
delivery of to pledgor to effect sale, 45.

How far negotiable, 280–297.

represent the property mentioned, 280.

contract of storage an essential element of, 280a.

can not be issued by persons not storing goods for hire, 280b.
not technically negotiable, 281.

quasi-negotiability of, distinguished from complete, 282.

in some states declared negotiable by statute, 283-295.
though negotiable by statute, stand in lieu of property, 296.
whether evidence of ownership or pledge, 297.

How transfer in pledge may be made, 293–302.

need not be in a particular form, 298.

though not to order or bearer may be pledged by delivery, 299.
exceptional rule in Massachusetts, 263, 300.

to bearer may be transferred without indorsement, 301.
acknowledgment of notice of transfer of, 302.

Rights of bona fide pledgee of, 303–313.

transfer to, passes title as effectually as actual delivery of the goods, 303.
when possession of goods obtained by pledgor in fraud, 304.

possession obtained by pledgee in good faith, 305.

pledgee takes title superior to lien of vendor, 306.

order accepted is sufficient delivery of goods, 307.

title by estoppel of pledgor, 308, 309, 310.

warehouseman estopped to deny he has the goods, 311.

when property deliverable on return of receipt, 311a.

not estopped as to matters not within his knowledge, 312.

nor when he issues a receipt by mistake, 313.

Warehouseman must have goods in store, 314–320.

statutory provision that receipt shall not be issued till goods are received,
314.

for goods not received does not pass title, 315.

issued by agent without authority not binding, 316.

issued by officer of warehouse company in favor of himself, 316a.

for part of goods stored in bulk, 317.

rule applies to such property as grain, 318.

when identical goods may be demanded, 318a.
when issued for more grain than is in store, 319.
warehouseman not guarantor of title, 320.

(References are to Sections.)

WAREHOUSE RECEIPTS-continued.

Owner can not give receipt for his own goods, 321-326.

statutory provisions in Nebraska and Kentucky, 322, 323.
receipt signed by agent no more effect than his own, 324.

public warehouseman can not issue receipt for his own property, 325a.
distinction between sales and pledges as regards delivery, 326.

WARRANTY,

of title by pledgor implied, 52, 330.

of genuineness of stock certificate implied by transfer, 167.

WASHINGTON,

statute regulating transfer of stock, 217.

statute relating to negotiability of bills of lading, 234.

statute relating to negotiability of warehouse receipts, 294f.
pledgor may vote upon pledged stock, 441..

pledgee of stock not personally liable as stockholder, 454.

WEST VIRGINIA,

statute regulating transfer of stock, 216.

WISCONSIN,

statute regulating transfer of stock, 218.

statute relating to negotiability of warehouse receipts and bills of lading,
240.

statute relating to negotiability of warehouse receipts, 295.
factor's act, 340.

statute making pledgor's interest subject to execution, 392.
pledgee of stock not personally liable as stockholder, 455.
statute regulating sale of pledge, 630.

WYOMING,

statute regulating transfer of stock, 210.

pledgor's interest in stocks subject to execution, 392a.

pledgor may vote upon pledged stock, 441.

pledgee of stock not personally liable as stockholder, 456.

Whole number of pages, 907.