The New/Old Law of Securities Transfer: Calling a “Spade” a “Heart, Diamond, Club or the Like”

Authors

Martin J. Aronstein, University of Pennsylvania Law School

Abstract

Recent changes in the law of securities transfer might be characterized as trying to put an expanding multi-faceted peg in a round hole. The proverbial round hole, of course, is the traditional negotiable instrument concept that a security is transferred by delivery. The peg is the rapidly developing system of securities issuance and holding practices in which an owner's interest in a security is evidenced by an entry on his account with a broker, bank, clearing corporation, or other intermediary, and the security itself is represented by a piece of paper in the possession of that or another third party, or in some cases, by nothing more than an entry on the books of the issuer.

Keywords

Commercial Law, Securities Law, Remedies, Torts

Disciplines

Commercial Law | Law | Legal Remedies | Securities Law | Torts

Recommended Citation

Martin J. Aronstein, The New/Old Law of Securities Transfer: Calling a “Spade” a “Heart, Diamond, Club or the Like”, 12 Cardozo L. Rev. 429 (1990).
Available at: https://larc.cardozo.yu.edu/clr/vol12/iss2/3