Mancini

An appeal from a judgment entered against defendant in an action for the recovery of liquidated damages as provided by section 324 of the Civil Code.

The facts shown by the record are that on February 11, 1925, the defendant was the president of L ’Italia Press Co., a corporation organized and existing under the laws of California, with a capital stock of one hundred thousand dollars divided into four thousand shares of the par value of twenty-five dollars each; that on or about August 1, 1908, Emilio Chirone was the holder and owner of eight shares of the capital stock of the corporation, which stock was> represented by certificate No. 19; that thereafter Chirone sold the stock and indorsed the certificate to Buffalo Brewing Co., a corporation; that the shares were sold by the latter and the certificate indorsed to one Savio, who in the year 1912' sold the same and by indorsement transferred the certificate to the plaintiff, who has ever since been the owner and holder thereof.

The plaintiff on or about February 11, 1925, presented the certificate to the defendant as president of L ’Italia Press Co., and demanded that the shares represented thereby be transferred on the books…