Weaver v. Grunbaum

GEARY, J., pro tem.

On January 4, 1926, respondents Chester N. Weaver and Elsie S. Weaver, husband and wife, invested $40,000 in Merchants Security Company, a California corporation, and upon that date there was issued to each of them certificates for 200 shares of the preferred and for 200 shares of the common stock of said corporation. Appellant Grunbaum was president and appellant Parker was vice-president of said corporation. Thereafter, it was deemed advisable by those guiding the corporate affairs to effect a reorganization thereof. The plan of reorganization contemplated a disposal of…