Home Savings Bank v. Los Angeles City Realty Co.

Los Angeles City Realty Company (a corporation) made and delivered its promissory note for five thou sand dollars to C. M. DuVernet, who indorsed it to the plaintiff. The plaintiff having recovered judgment against said Realty Company and DuVernet for the amount of said note, brought this action against J. H. Bullard and others, as stockholders of Los Angeles City Realty Company, to recover the unpaid subscriptions alleged to be due from them on their shares. The complaint alleged that Bullard had subscribed for and was the owner of ninety-five shares, of the par value of one hundred dollars each, for which nothing had been paid to the corporation. Judgment was sought against him and his codefendants for the amounts remaining unpaid on their several subscriptions, not exceeding the amount due on the judgment against the corporation.

The defendants answered, alleging, among other things, that the shares of stock held by them had been paid for in full.

Findings were waived, and judgment was entered in favor of plaintiff against J. H. Bullard and C. M. DuVernet. J. H. Bullard appeals from the judgment and from an order denying his motion for a new trial.

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