Ester sells stock in Fast Food Inc. to Gayle. Ester does not hand the stock certificates to Gayle, but gives her the key to a safety-deposit box in Heartland Bank in which the certificates are locked. This is
A) incomplete delivery.
B) constructive delivery.
C) accession.
D) conversion.

Question

Ester sells stock in Fast Food Inc. to Gayle. Ester does not hand the stock certificates to Gayle, but gives her the key to a safety-deposit box in Heartland Bank in which the certificates are locked. This is​
A) ​incomplete delivery.
B) ​constructive delivery.
C) ​accession.
D) ​conversion.

Quizplus · Accepted Answer

This is constructive delivery, as Ester has given Gayle access to the certificates, even though she has not physically delivered them.

Ester Sells Stock in Fast Food Inc