Dennis
San Gabriel Valley Land & Water Co. v. Dennis
Opinion
Lead Opinion
Paterson, J.
This is an action to recover from respondent, who was a stockholder of the plaintiff corporation, the unpaid balance of an assessment upon eighteen hundred and eighty-three shares of its capital stock. The court below found that the respondent was not, at the time the assessment was levied, the owner of the stock, and that the board of directors had not, before the commencement of this action, elected to waive further statutory proceedings to collect the assessments. It was alleged in the complaint that the defendant was at all times mentioned therein the owner and holder of eighteen hundred and eighty-three shares of the capital stock of plaintiff, for which he had subscribed and agreed to pay. The answer simply denied that the defendant “ever was at any time owner or holder of eighteen hundred and eighty-three shares of the subscribed capital stock of said corporation.” This denial in effect admitted that he was the owner and holder of eighteen hundred and eighty-two shares of the stock. But it is claimed by respondent that the plaintiff, having introduced evidence to prove that Dennis was a stockholder, treated the denial as sufficient, and cannot now be heard) to question its…