Union Bond & Trust Co. v. Gilbert

In the early part of 1934, Ina Gilbert, respondent herein, was the owner of 48 shares of the stock of the Union Savings and Loan Association of the par value of $3,190.38. The Union Savings and Loan Association became insolvent and was taken over by the corporation commissioner of the state of Oregon as statutory receiver. It appears that, in April of 1934, the Union Bond and Trust Company, appellant herein, procured an assignment of said shares of stock by paying the respondent the sum of $1 and agreeing to give her 50 per cent of all the money that might be realized on the stock in the…