Coast Amusements, Inc. v. Stineman

GRIFFIN, J., pro tem.

This is an action to recover the par value of 8,500 shares of respondent’s stock alleged to have been subscribed for by appellants and for which they failed and refused to reimburse the company.

The court found that respondent was a corporation duly organized and existing under the laws of the state of California; that on or about July 7, 1925, appellants, together with W. E. Knotts, F. W. Becker and L. H. Hendricks, entered into an oral agreement among themselves to form the respondent corporation and subscribe for certain stock, and pursuant thereto articles of…