McCallum v. Campbell-Simpson Motor Co.

*162KNUDSON, Justice.

On May 16, 1957, respondent Campbell-Simpson Motor Co. (hereinafter referred to as respondent Motor Company) owned and held all of the issued capital stock, amounting to 1200 shares, of the Campbell-Simpson Buick, Inc. (hereinafter referred to as the Buick Company), an Idaho corporation. Said stock had a book value as shown by the books of said Buick Company, as of April 30, 1957, amounting to $113,894.88, less repossession reserves df $13,204.54. On said date, May 16, 1957, appellant entered into a written contract with said respondent for the purchase by appellant of all…