Pacific Gamble Robinson Co. v. Lapp

Williams, J. —

In 1962, Conrad C. Lapp acquired 100 percent of the.stock of the Joslyn Fruit Company (Joslyn), a Colorado corporation. In 1975, Conrad Lapp married his present wife, Laura D. Lapp, in Colorado, where both were residents. Under Colorado law, the stock of Joslyn remained Mr. Lapp's sole property, which he could encumber or convey without the consent of his wife. Goldberg v. Musim, 162 Colo. 461, 427 P.2d 698 (1967); Bostron v. Bos-tron, 128 Colo. 535, 265 P.2d 230 (1953).

By the spring of 1977, Joslyn was in severe financial difficulty and indebted to petitioner Pacific Gamble…