Savage

Savage v. Lorraine

Good Law
148 F.2d 818·1945 U.S. App. LEXIS 2503
United States Court of Appeals for the Ninth CircuitMarch 30, 1945No. 10683California507 words

Opinion

Lead Opinion

Iiealy, J.

In this suit, which was for declaratory relief, the trial court adjudged that a block of stock in the Lorraine Corporation, comprising 550,472.65 shares, was the property of appellee David G. Lorraine, and that appellant Savage holds the shares in trust for Lorraine. It was adjudged that upon the repayment to Savage of certain sums of money Lorraine is entitled to the shares. The court retained jurisdiction of the suit for the purpose of carrying its judgment into effect by means of an accounting or receivership, if that should prove necessary. A receiver for the Lorraine Corporation was later appointed; and the case is here on appeal from the receivership order and orders collateral thereto, as well as from the judgment.

In respect of the main appeal the questions presented are purely factual. Appellant 1 insists that the action is grounded in fraud, and that the showing of fraud fell short of being “clear, convincing and unequivocal.” Appellee denies that this is a fraud action, contending it is grounded in breach of contract. Assuming that this difference of opinion as to the nature of the suit has some bearing on our powers of review, which is more than doubtful, we agree…

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