Kellogg

Kellogg v. Snell

Good Law
1928 Cal. App. LEXIS 811·93 Cal. App. 717·270 P. 232
Court of Appeal of CaliforniaAugust 30, 1928Docket No. 3535.California1,668 words

Opinion

Lead Opinion

Thompson, J.

This is an appeal from a judgment for damages for failure to repurchase fifty shares of bank stock pursuant to contract. The appeal was perfected under the provisions of section 953a of the Code of Civil Procedure, on the ground that the findings are not supported by the evidence. No evidence or proceedings are printed in appellant’s brief.

Upon trial the court found the following facts: That the appellant was president of the board of directors of the Hollywood State Bank at Los Angeles, and that he owned fifty shares of the capital stock of said bank, of the book value of $112.50 per share; August 21, 1924, appellant sold his entire block of stock to respondent for $200 per share, with an agreement in consideration thereof that respondent was to be immediately employed by said bank as cashier and manager at a salary of $250 per month. The written agreement of the parties which accompanied this sale of stock included the following provisions: “ . . . It is . . . agreed by the parties hereto that the second party (respondent) is to accept a position with said bank under conditions otherwise agreed upon, and that this contract of purchase is made with the express understanding…

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