Legal Opinion
Wilson v. Cherokee Drift Mining Co.
California Supreme Court
Decided July 21, 1939No. Sac. 5219PublishedCited by 7 opinions
1Opinion of the Court
THE COURT.
This is an action to cancel an assessment on shares of stock and enjoin the sale of stock for the enforcement thereof.
Defendant is a California corporation, with a capital stock of 500,000 shares of $1 par value. In 1935, plaintiff recovered a judgment against certain shareholders and acquired their stock in satisfaction thereof, new certificates being then issued to him in the amount of 46,666 shares. At that time the stock was nonassessable.
In May, 1,937, the articles were amended to permit the levy of assessments by the board of directors. At that time the corporation owed…
2Cases cited3 opinions
- Rainey v. MichelCalifornia Supreme Court · 1936
- Schroeter v. Bartlett Syndicate Building Corp.California Supreme Court · 1936
- Heller Investment Co. v. Southern Title & Trust Co.California Court of Appeal · 1936
3Cited by7 opinions
- Stevenot v. NorbergCourt of Appeals for the Ninth Circuit · 1954
- Tu-Vu Drive-In Corp. v. AshkinsCalifornia Supreme Court · 1964
- Watson v. Santa Carmelita Mutual Water Co.California Court of Appeal · 1943
- Superior Beverage Co. v. CommissionerUnited States Tax Court · 1972
- Gum v. St. Joseph Foods, Inc.Missouri Court of Appeals · 1973
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