Legal Question in Business Law in Florida
Is any stock agreement legal if no stock certificates were never issued?
Asked on 6/01/14, 8:01 am
1 Answer from Attorneys
Thomas Shigo
The Shigo Law Firm, P.A.
Stock agreements are generally evaluated under contract law. If it was a valid contract then it is enforceable even though physical certificates were not issued. Many small business keep a stock transfer ledger without giving up physical control of the stock certificates. These ledgers show that stock was "issued" without the actual physical transfer of the stock certificate.
Answered on 6/13/14, 7:13 am
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