Hansen v. California Bank

The defendants have appealed from a judgment which was rendered against them for $13,935.91 and interest in favor of the plaintiff, as trustee of the American Jobbers, Inc., a bankrupt corporation, being the amount paid to the bank by the American Jobbers corporation in 1930 for the purchase of its own corporation stock in violation of the provisions of section 354 of the Civil Code, as it then existed, now sections 341 and 342 of the same code, and contrary to the provisions of section 309 of the Civil Code, as it then existed, now sections 346, 363 and 364 of the same code.

The American…