Any owner of corporation stock, who is capable of contracting, generally has the full right to dispose of the same and transfer the legal title.1 The exercise of this right cannot be interfered with by an unreasonable by-law of the corporation.2 A corporation, however, may provide how transfers of its stock must be made, and such by-laws if not in conflict with the statutes or charter, will be binding. In general shares of stock can only be assigned on the books of the company kept for that purpose. Certificates of stock are not negotiable instruments.