Gardner v. Rutherford

SCHOTTKY, J. pro tem.

Respondent G. C. Gardner and Prank Poneeitta were partners in a business known as the “Napa Valley Creamery” from December, 1923, to January 1, 1927. Shortly before January 1, 1927, they incorporated under the name of “Ambrosia Creamery, Inc.,” and on that date transferred all the assets of the Napa Valley Creamery to the new corporation, and had the corporation assume all the liabilities of the partnership. Eighty-nine per cent of the stock was issued to respondent Gardner and eleven per cent to Poneeitta, but three of these shares were issued to three other persons in…