Morson v. Second National Bank of Boston
Massachusetts Supreme Court
306 Mass. 588, 29 N.E.2d 19, 131 A.L.R. 189 (1940)
- Written by Craig Conway, LLM
Facts
During a trip to Italy, Herbert Turner gave Mildred Copperman 150 shares of stock in the Mohair Plush Company, Inc. (Mohair), a Massachusetts corporation. Turner handed Copperman an envelope containing the stock certificates, which he later signed over to her in the presence of a notary and two witnesses. The stock certificate was then delivered to the Second National Bank of Boston (Second National) (defendant). After Turner’s death, Morson, the administrator for Turner’s estate (plaintiff), filed a petition against Second National seeking to recover the stock. Morson claimed that the law of Italy applied to the transaction. Under Italian law, Turner’s supposed transfer to Copperman failed to meet the necessary requirements for ownership. Conversely, Second National argued that Massachusetts law controlled because it was Mohair’s state of incorporation. The trial court held for Morson, concluding that Turner had not validly completed the gift of stock to Copperman under Italian law. Second National appealed.
Rule of Law
Issue
Holding and Reasoning (Qua, J.)
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