Davidson

This is an action by a judgment creditor of the Visalia Publishing House, a corporation, to collect from defendant as a stockholder therein an unpaid balance alleged to be due from him to the corporation upon shares of the stock therein, the corporation being insolvent.

Defendant appeals from a judgment rendered in favor of plaintiff.

While the corporation was a going concern defendant purchased from it shares of its capital stock of the par value of one thousand dollars, for which he paid two hundred and fifty dollars and has paid no more.

The first point urged by defendant for a reversal is that by reáson of the fact that the issuance of an execution upon the judgment obtained against the corporation and a return of nulla bona thereon by the sheriff is not alleged, the complaint fails to show that plaintiff .prior to the bringing of this action had exhausted its legal remedies in an effort to collect the judgment obtained against the publishing house, and therefore the general demurrer interposed by defendant should have been sustained. While it is true the complaint did not allege the return of an execution nulla bona, it did allege that on the fifteenth day of February,…