List.

This is an appeal from a judgment in favor of the plaintiff, after the second trial, the ease having once before been before the appellate court. (Highland Park Inv. Co. v. List, 27 Cal. App. 761 , [ 151 Pac. 162 ].)

The action was brought to recover a sum of money alleged to have been secured by appellant R. D. List as a secret profit upon a sale of certain lots of land to plaintiff corporation. The facts are fully and succinctly stated in the opinion of the court on the former appeal, and do not need to be repeated.

[1] “ The directors of a corporation hold a fiduciary relation to the stockholders, and have been intrusted by them with the management of the corporate property for the common benefit and advantage of each and every stockholder, and by their acceptance of this office they preclude themselves from doing any act or engaging in any transaction in which their private interest will conflict with the duty they owe to the stockholders, and from making any use of their power or of the corporate property for their own advantage. . . . [2] For the reason that it is against public policy to permit per sons occupying fiduciary relations to be placed in such, a position that…