Schmidt

Schmidt v. Miller

Good Law
1921 Cal. App. LEXIS 237·52 Cal. App. 496·199 P. 49
Court of Appeal of CaliforniaMay 4, 1921Civ. No. 3790.California774 words

Opinion

Lead Opinion

Kerrigan, J.

This action was brought by plaintiff to recover from the defendants their proportionate share of an alleged indebtedness of a corporation in which defendants were stockholders. Plaintiff recovered judgment imposing upon defendants a stockholder’s liability in the sum of $58,170.15, together with costs, and defendants appeal.

Four causes of action are set forth in the amended complaint. The first cause is predicated upon a promissory note by which the corporation promised to pay to plaintiff on demand the sum of $143,679.50. The second and third causes declare in assumpsit for the same amount, and by the fourth plaintiff claims that he laid out and expended for the use and benefit of the Trinity Asbestos Mining Company at the special instance and request of that corporation the sum of $3,017.03. By an amended answer defendants denied the indebtedness of the corporation, and denied that at the time the advances were made by plaintiff they were made pursuant to any promise to repay other than a promise that they should be repaid when the mine was developed and placed upon a paying basis. The execution of the note is admitted, and the amount thereof represents the result of an…

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