Wagg

Action by plaintiff to recover from the defendants the sum of $2,500 on a certain promissory note executed and delivered by the defendant Toler to the defendant Leach-Biltwell Motor Car Company, a corporation, and by the corporation assigned and transferred to the plaintiff. Defendants had judgment and the plaintiff appeals.

The grounds urged by appellant for reversal upon this appeal necessary to be considered herein are: First, that the court erred in holding that the transfer of the note sued upon to the plaintiff by the defendant corporation was void ab initio; second, that the evidence was insufficient to support the findings; third, errors in the admission of testimony. Other grounds are set forth, but are not such as affect the merits of this action and need not be set forth in detail in this opinion.

It appears from the transcript that some time prior to the incorporation of the defendant Leach-Biltwell Motor Car Company there was in existence a certain other corporation known as and called the Leach-Biltwell Motor Company; that the plaintiff W. I. Wagg became a stockholder in that corporation and also a director; that the par value of the stock purchased by the…