WESTERN CAB COMPANY v. Kellar

*242OPINION

By the Court,

Zenoff, J.:

■ The genesis of the appellant corporation occurred in the early 1950’s when Western Enterprises, Inc. was organized to operate the franchise of Western Cab Company. During a subsequent reorganization of Western Enterprises following various financial difficulties, respondent and cross-appellant Charles Kellar obtained an ownership interest in the corporation and assumed responsibility as a corporate officer. Further financial difficulties led to the transfer of all of the corporation’s right, title and interest in the franchise to operate the cab company to…