Melville Fuller

“ The general construction which has been put upon the charters of other banks containing similar provisions as to the transfer of their stock is that the provisions are designed solely for the safety and security of the bank itself, and of purchasers without notice; and that, as between vendor and vendee, a transfer, not in conformity to such provisions, is good to pass the equitable title, and devest the vendor of all interest in the stock. ”

“ The representative of the donor was manifestly bound by the donor's valid acts, and could assert no right superior to his. His right to make the gift was the right to dispose of his own property, and whether, as between him and his donee, the equitable title passed, was a question of general or local law. ”