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Nichols v. Mossman

1 Citing case

  1. Bank of Hawaii v. Deyoung

    92 Haw. 347 (Haw. 2000)   Cited 14 times
    Holding that the debtor's rights to pledged shares of stock were properly transferred to a judgment lien creditor by way of garnishment, pursuant to a state statute that specifically allows for garnishment of secured collateral; however, those shares remained subject to the secured party's prior perfected security interest

    This court has defined "[t]he word `effects' [to denote] property in a more extensive sense than `goods.' It embraces things in action as well as tangible personal property." Nichols v. Mossman, 35 Haw. 772, 777 (1941) (citation omitted and brackets added). As such, this court has held that common stock is "property" or an "effect" subject to garnishment.