Burrell v. Bennett

The opinion of the court was delivered by

Reavis, J.

The Puget Sound Loan, Trust & Banking Company was, in July, 1893, under control of a receiver appointed by order of the superior court, and so remained until November, 1894. On that date its officers, under the terms of an agreement between the bank and its creditors, and by permission of the superior court, resumed business. One of the conditions of its resumption of business was that money should be borrowed from the Bank of California and other parties, including the appellants here, for the purpose of carrying on the business,, and to be…