Giovannoni

The complaint sets up a cause of action for money had and received on the thirteenth day of January, 1920, in the sum of $1,650. The answer denies the allegations of the complaint and by way of cross-complaint the defendant alleges that on said day the defendant, being the owner of ten shares of the capital stock of the First National Bank of Newman, California, sold the same to plaintiff for the sum of $1,650, which the plaintiff then paid; that within sixty days after such sale the bank was declared insolvent and taken over by the controller of currency and a receiver placed in charge thereof; that March 2, 1920, the controller levied an assessment of $100 a share on the capital stock of the bank and the receiver notified defendant to pay such assessment on the ten shares sold to plaintiff; that thereupon the defendant notified plaintiff to pay the same, but that he refused; that the defendant then paid the assessment pursuant to a stipulation that such payment should not prejudice any right the defendant might have for the recovery of the amount thereof from plaintiff; that the sale of the stock was made without knowledge, information or belief on the part of the defendant that…