Jackins v. Bacon

RICHARDS, J.

This appeal is from a judgment in favor of the plaintiff and against the defendants herein in an action for conversion by said defendant Bacon of certain stock of the Queen Oil Company, a corporation, of which the plaintiff alleged herself to have been the owner at the time of such conversion. The undisputed evidence in the case showed that on and prior to August 31, 1918, one Harry Jackins, the husband of the plaintiff and respondent herein, appeared on the books of the Queen Oil Company as being the owner of forty thousand shares of the capital stock of said corporation, as evidenced by certificates numbers 46 and 47. On said August 31, 1918, the sheriff of Los Angeles County, acting under and by virtue of an execution, issued in a certain action against said Harry Jackins and others, sold said forty thousand shares of the capital stock of said corporation to Frank P. Bacon, the defendant and appellant herein, and on September 4, 1918, pursuant to said sale, issued to said Bacon a certificate of sale of said stock. Thereupon, and upon said last-named date, said Bacon presented to the Queen Oil Company said certificate of sale demanding that there be issued to him by virtue thereof new certificates representing said shares of stock. The Queen Oil Company complied with this demand. The record further shows that on March 26, 1918, and while said Harry Jackins was the owner of the aforesaid stock, he assigned and transferred the same to the plaintiff and respondent herein as collateral security for the payment of his promissory note to her in the principal sum of three thousand five hundred dollars, and that thereafter, and on the twenty-fourth day of February, 1919, having made default in the payment of said note, the respondent herein caused the said stock to be sold, as provided by law for the sale of pledged property, and became the purchaser thereof

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at said sale; that thereafter, and on the twenty-second day of April, 1919, the respondent presented said original certificates of stock, numbers 46 and 47, to the Queen Oil Company and demanded that the transfer of said stock to her be entered upon the books of the corporation and that new certificates of stock therefor be issued to her. This demand was refused by the corporation for the assigned reason that said stock had theretofore been sold by the sheriff of Los Angeles County under a writ of execution to Frank P. Bacon and that new certificates of stock had been issued to him pursuant to said sale. Thereupon, and on April 24, 1919, the plaintiff commenced an action wherein the Queen Oil Company, Harry Jackins, and the appellant herein, Frank P. Bacon, were made defendants for the purpose of establishing her title to the stock in question. Thereafter, and after due proceedings had therein, judgment was entered in said action, wherein it was adjudged and decreed that the plaintiff therein was the owner of the stock in question and it was ordered that the defendants therein cancel all certificates evidencing the ownership of said forty thousand shares of said stock of the Queen Oil Company in any person or persons other than the plaintiff and that the defendant Frank P. Bacon surrender to the Queen Oil Company for cancellation the certificates for said stock which had theretofore been issued to him. An appeal from said judgment was taken by said Bacon to the supreme court, where, after due hearing, said judgment was affirmed in a decision of said court entitled