McDougald

McDougald v. Argonaut Land & Development Co.

Good Law
117 Cal. 87·1897 Cal. LEXIS 626·48 P. 1021
Supreme Court of CaliforniaMay 24, 1897Sac. No. 153California2,494 words

Opinion

Lead Opinion

Temple, J.

This action is sui generis. The complaint as it was originally drawn, and as it was at the trial, and until the close thereof, among other things averred in substance that the corporate defendant, the Argonaut *89 Land and Development Company, on the first day of May, 1890, owned a certain tract of land which it was endeavoring to sell for one hundred and forty thousand dollars, and that certain of the defendants were the directors of the corporation, and were authorized to make such sale, and as such directors and agents, for the purpose of making the sale, were empowered to enter into any and all contracts, agreements, and guarantees, etc., necessary.

Pursuant to such authority they contracted with defendant Boggs to exchange said land for a tract of twelve thousand acres owned by said Boggs and forty-four thousand dollars in gold coin. Further, Boggs agreed to the purchase on condition that the corporation would furnish a tenant for the land he was acquiring by said trade, acceptable to said Boggs, who would rent said land for five years at an annual rental of twelve thousand dollars, and would obtain the guaranty by suitable persons of performance on the part of such…

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