American Trust Co. v. California Western States Life Insurance

This is an action for declaratory relief with respect to an agreement of defendant and respondent to repurchase shares of its own stock previously sold to plaintiff and appellant. The case involves substantially the same issues as California Western States Life Insurance Co. v. Pacific American Co., Ltd., S. F. No. 16026, post, p. 763 [98 Pac. (2d) 511], and California Western States Life Insurance Co. v. Tucker, S. F. No. 16027 (post, p. 69 [98 Pac. (2d) 511]), this day decided. We are accordingly presenting the background of these three actions in this opinion. The essential facts, as found…