Clancy sells shares in Darling Pool & Spa Company to Eton. Clancy does not deliver the actual possession of the shares to Eton, but gives him the key to a safety-deposit box in First State Bank in which the stock certifi?cates are locked. Presenting the key is
A) constrictive delivery.
B) constructive delivery.
C) destractive delivery.
D) destructive delivery.

Question

Quizplus · Accepted Answer

Giving the key to a safety-deposit box where the stock certificates are locked is an example of constructive delivery, where symbolic possession of the shares is transferred by giving the key to a place where they are stored, rather than physically delivering the shares themselves.

Clancy Sells Shares in Darling Pool & Spa Company to Eton