1.   Conversion is achieved by transferring the nominee holding to the beneficial owner.

2.   Lawyers, under the cloak of client confidentiality, can mask the beneficial owners of accounts.

3.   The governing relationship with which this case is concerned is that of a beneficial owner of the legal estate selling the freehold to a purchaser.

4.   A beneficial owner is therefore one who owns the legal estate for the benefit of him or herself.

5.   Unless there is valuable consideration the beneficial owner covenants will have to be expressly incorporated in the assignment.

6.   As the beneficial owner covenants are only implied where there is valuable consideration, the covenants should be expressly incorporated by reference thereto in the conveyance or transfer.

7.   As beneficial owner covenants are only implied where there is valuable consideration, the covenants should be expressly incorporated by reference thereto in the conveyance or transfer.

8.   Although Morgan said it may be deemed the beneficial owner of the shares, it disclaims ownership of the shares.

9.   -- The SEC should change rules that require companies to pay the reasonable expenses of brokers and banks for forwarding proxy materials to beneficial owners.

10.   Burnison is president and a beneficial owner of CBD.