Gazett

Gazett v. Epperly

Good Law
1917 Cal. App. LEXIS 479·35 Cal. App. 508·170 P. 634
Court of Appeal of CaliforniaDecember 8, 1917Civ. No. 2260.California385 words

Opinion

lead Opinion

Kerrigan, J.

This appeal is from a judgment rendered in favor of defendants in an action brought by plaintiff for a rescission of a contract involving the exchange of property. The appeal is upon the judgment-roll alone, and the sole point presented for a reversal is that a portion of the particular finding involving the issue of value of certain stock which constituted part of the exchanged property 'is insufficient to sustain the judgment.

It appears from the complaint and the findings that one Jacob B. Gazett, who, subsequent to the transaction here involved, was declared an incompetent, owned certain real property in the city of Oakland which he exchanged with the defendant Epperly for the sum of two thousand dollars in cash and forty-six shares of the capital stock of the Madera Electric Water Company, of the par value of one hundred dollars per share. In making the exchange Gazett valued the real property at the sum of six thousand dollars, the actual value of which, however, was found by the trial court to be but four thousand five hundred dollars. The finding that the stock had .value is claimed to be insufficient, for the reason that it contains a statement that “there is not…

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