Postlethwaite v. Minor
California Supreme Court
APPEAL from a judgment of the Superior Court of the City and County of San Francisco, from an order discharging a writ of attachment, and from an order refusing a new trial. Geo. A. Sturtevant, Judge. The facts are stated in the opinion of the court. John A. Wright, George F. Hutton, and H. F. Peart, for Appellant. Frank McGowan, Knight & Heggerty, Gillett & Cutler, McGowan & Westlake, and Otto C. Gregor, for Respondents.
1DissentShaw, J.
I dissent. The agreement to “indorse and guaranty the payment of the said promissory note and bonds” became a present guaranty of payment as soon as the transaction was closed by the formation of the new corporation, the turning over by the Mercantile Company of all its business and property to said new corporation and the issuance of the bonds of the new corporation to the Mercantile Company. The making of the agreement in this form was an offer to guarantee the bonds. The turning over of the property and the issuance of the bonds, as agreed, was an acceptance of the offer, and it put the…
2Cases cited3 opinions
- Bishop v. EatonMassachusetts Supreme Judicial Court · 1894
- Petty v. GackingSupreme Court of Arkansas · 1911
- James v. E. G. Lyons Co.California Supreme Court · 1901