Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. warren, a stockholder mortgaged his shares of stoc

Warren, a stockholder mortgaged his shares of stocks to Vivian in 2018. The same were...

60.1K

Verified Solution

Question

Accounting

Warren, a stockholder mortgaged his shares of stocks to Vivian in 2018. The same were not recorded in the Stock and Transfer Books of the corporation. On January 1, 2021, Warren again mortgaged the same shares of stocks to Orlando. Upon knowledge of the second mortgage to Orlando, Vivian filed an action to recover the shares of stocks against Warren and Orlando. The two reasoned out, that previous mortgage to Vivianis not valid for it was not recorded in the stock and transfer book of the corporation. Was the contention of Warren and Orlando correct? Why?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Exercise 6.5 Compute the stresses in laminate coordinates at top and bottom of each lamina in...

Mechanical Engineering
Q

summarize the article \"the economist who would fix the american dream\"? Discuss the implications of dr. Chetty's...

Economics
Q

4 Listen What is a lifespan O the oldest age to which a species is...

Biology
Q

Question 2 A circuit network has capacitors of values 20 F 30 F 40 F...

Physics
Q

A block of mass m 1 2 kg is attached to a string that is...

Physics
Q

Perform the indicated multiplication and express the results in polar and rectangular forms 57 7e...

Basic Math
Q

A bag has eight balls labeled A, B, C, D, E, F, G, and H.One...

Basic Math
Q

The total fresh vegetables consumed per person per year can be modeled byV(t) = 0.2(t-...

Basic Math
Q

New Method Company uses a process cost system to manufacture sensors for the security industry....

Accounting
Q

Matching: Match the descriptions to the appropriate terms. Use the Scantron provided. a) Acquisition d)...

Accounting
Q

The Dunn Corporation is planning to pay dividends of $480000. There are 240000 shares outstanding,...

Finance
Q

Imperial Jewelers is considering a special order for 23 handcrafted gold bracelets to be given...

Accounting