Sims

Visalia Gas & Electric Light Co. v. Sims

Good Law
104 Cal. 326·1894 Cal. LEXIS 912·37 P. 1042
Supreme Court of CaliforniaOctober 3, 1894No. 18268California1,783 words

Opinion

lead Opinion

Temple, J.

The complaint charges that plaintiff leased to one Lynch, June 24, 1887, certain premises, including the plant of the electric light and gas company, for the term of two years from June 1, 1887. That Lynch agreed to take possession, manage, control, and operate the same, and to pay said company every three months during the term all the receipts of said gas and electric light business, after paying all necessary charges and expenses incurred in carrying on said business; and further agreed that the amount so paid should be sufficient to enable it to pay an annual dividend to its stockholders of five per cent upon its capital stock of twenty-eight thousand dollars, and, in case of deficiency, he would pay to such company every three months such further sums as would enable it to pay such dividend.

That defendants became sureties by signing an agreement indorsed on said agreement, of lease, whereby they agreed if said Lynch failed to pay plaintiff such sums, or any sums which might be due, they would pay the same.

That Lynch took possession of the demised property and retained it until June 1,1889, without paying plaintiff any sums of money as rents or receipts from said…

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