Journeay

Union Trust Co. v. Journeay

Good Law
1916 Cal. App. LEXIS 188·29 Cal. App. 502·156 P. 999
Court of Appeal of CaliforniaJanuary 28, 1916Civ. No. 1662.California608 words

Opinion

Lead Opinion

This is an appeal from a judgment in plaintiff’s favor and from an order denying defendant’s motion for a new trial.

The action is one brought upon the alleged statutory liability of the defendants as stockholders of a corporation known as Ensign-Baker Refining Company, upon an alleged indebtedness of said corporation evidenced by a promissory note of the Ensign-Baker Company, executed by its duly authorized officers and delivered to the plaintiff, upon which a balance remained unpaid at the time of the institution of this action amounting to twelve thousand five hundred dollars, with accumulated interest. The only substantial question raised by the defendant’s answer and urged upon this appeal is that arising from their plea of another action or actions pending.

The facts upon which this alleged defense to this action and objection to the judgment herein is based are these: On December 15, 1910, the Ensign-Baker Company, a corporation, of which these defendants were then stockholders, borrowed from the plaintiff the sum of twenty thousand dollars, executing a promissory note therefor in said sum. At or prior to this time the plaintiff was the holder of a written instrument…

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