Flagg

This is an action to recover the unpaid poi’tion of the purchase price of stock in the California Land Buyers Syndicate, a bankrupt corporation. Judgment was rendered for respondents and this appeal followed. It is taken on the judgment-roll, which is practically incorporated in appellant’s opening brief. Respondent Sloane has moved to dismiss the appeal or affirm the judgment as to him because it appears that as to him the questions presented “are so unsubstantial as not to need further argument” (sec. 3, Rule V of the Rules for the Supreme Court and District Courts of Appeal), and that the appeal is frivolous and for delay.

It appears from the findings that R. L. Stewart promoted the organization and incorporation of California Land Buyers Syndicate, which was incorporated June 11, 1926. On June 2, 1926, Stewart and Sloane entered into a written contract whereby the latter was employed as the legal adviser of the former with his compensation to be paid in shares of the common stock of the corporation which the two would make an “effort” to have issued to Stewart for one dollar per share. The commissioner of corporations issued an amended permit authorizing such purchase by…