Powers

Powers v. Freeland

Good Law
114 Cal. App. 146·1931 Cal. App. LEXIS 704·299 P. 736
Court of Appeal of CaliforniaMay 14, 1931Docket No. 366.California1,775 words

Opinion

lead Opinion

Jennings, J.

Plaintiff appeals from an order of the superior court dissolving a writ of attachment theretofore made by said court.

The affidavit of appellant upon which the writ of attachment issued recites that respondents are indebted to appel lant in the sum of $10,116.67 upon an express contract for the direct payment of money, to wit, payment of money due appellant from respondents according to the terms of a certain contract made on January 4, 1930. The complaint in the action alleges three causes of action. The first cause of action is for money had and received and alleges that respondents received the sum of $10,000 for the use and benefit of appellant on March 6, 1930. The second cause of action alleges that on January 4, 1930, appellant entered into'a contract with respondent Freeland for the purchase by appellant of 2,020 shares of class A common stock of the Hollywood Dry Corporation, which the seller represented had a book value of $6.50 per share; that appellant gave in payment for said stock his promissory note in the sum of $10,000, and received a stock certificate for 2,020 shares of stock in the corporation aforesaid; that on March 6, 1930, appellant paid the principal…

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