San Felipe Mining Co. v. Belshaw
Synopsis
An Equitable Title will not Suppoet Ejectment.—If several persons, who own mining ground, agree in writing that they will incorporate, and that as soon as the corporation is formed, each one will convey to the corporation his interest in the ground, receiving, as a consideration, stock of the corporation, and the corporation is formed as provided in the agreement, but the conveyances are not executed, the agreement is not sufficient in law to divest the title of the parties to it, so as to enable the corporation to recover the ground in ejectment.
By the Court: Irrespective of other points made by the appellant, and which need not now be considered, we are of opinion that the Court below erred in instructing the jury that the agreement of August 4th, 1870, was sufficient in point of law to divest the interest of De la Mere and vest the same in the plaintiff, so as to enable the plaintiff to recover that interest in this action.
Judgment and order denying a new trial reversed and cause remanded. Remittitur forthwith.
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