Thatcher

An appeal from the judgment entered in an action for declaratory relief and for an accounting.

The court found that on and prior to November 17, 1926, the plaintiff was the owner of a contract for the purchase from S. T. Carlisle of a gravel producing plant situated on the land of Joseph and Caroline Doetsch in Santa Clara County, the consideration being $5,000, payable in installments, and the delivery to Carlisle of 2,000 cubic yards of gravel; that plaintiff also held a written lease of a gravel deposit upon the land mentioned; that on the above date the plaintiff agreed to assign and transfer to the defendant the Carlisle contract and the lease in consideration of the transfer by the corporation to the plaintiff of a one-fourth interest in the plant fully paid and free of encumbrances; that the plant consisted of the leasehold interest mentioned and the appliances used in producing, crushing and washing the gravel; that those assignments were on the same day made to the defendant, which thereupon executed to the plaintiff the following bill of sale:

It was further found that defendant went into possession and operated the plant for the account and benefit of both parties…