Cockins

Cockins v. Cook

Good Law
1895 Cal. LEXIS 1130·5 Cal. Unrep. 103·41 P. 406
Supreme Court of CaliforniaJuly 31, 1895No. 19,515California635 words

Opinion

Lead Opinion

Belcher, J.

The Artesian Land and Water Company, a corporation, issued twenty bonds for $1,000 each, dated June 1, 1888, and secured by a mortgage on its corporate property. The defendant, Cook, became the owner of two hundred and seventy shares of the capital stock of said company on the twentieth day of June, 1888, and he continued to be the owner thereof until the twentieth day of November, 1888. The said mortgage was subsequently foreclosed by plaintiff, and under the decree rendered the mortgaged premises were sold. The sum realized from the sale was not enough to satisfy the amount found due the plaintiff on the bonds, and thereupon a judgment against the said company for the deficiency was docketed in his favor. The plaintiff commenced this action to recover from the defendant his proportionate share of the said deficiency judgment, under section 322 of the Civil Code. The complaint alleges, among other things, that the bonds were “made, executed, and issued” on the first day of June, 1888, and that “at all of said dates *104 and during all of said times, and during and at the time and respective times when said debt was incurred .... and the said bonds and mortgage were made,…

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