Juri

The appeal is from a judgment in favor of the plaintiff following defendant’s failure to answer after his demurrer to the amended complaint had been overruled. The action is one for the breach of a written contract which is set out in full as a part of the amended complaint. The demurrer is both general and special, but as the amended complaint was framed in three distinct causes of action, the third of which pleaded an account stated as to which no general demurrer was interposed, it will be necessary to consider the grounds of the special demurrer only because, if the amended complaint pleaded one good cause of action, the general demurrer could not have been sustained to the pleading.

The written agreement upon which the litigation is based was executed by the Pacific Alloy and Steel Company, a corporation, as party of the first part, three named trustees, parties of the second part, and sixteen individual parties of the third part who severally agreed to pay to these trustees the amounts specified as subscriptions opposite their respective names. The purpose of the agreement was to raise funds to enable the trustees to adjust the claims of creditors of the corporation of…