Pacific Dock & Terminal Co. v. Los Angeles Dock & Terminal Co.

COSGRAVE, District Judge.

On March 30, 1923, D. M. Reynolds, representing the interests that later became incorporated as Pacific Dock & Terminal Company, the plaintiff in this action and which will be called the Pacific Company, addressed a letter to one of the defendants Los Angeles Dock & Terminal Company, which will be called the Los Angeles Company, asking for an option to purchase 220 acres of Long Beach water-front property owned by the Los Angeles Company at a price of $2,000,000.

D. M. Reynolds at all times acted as agent and under authority of the Pacific Company and as its trustee in…