Southern California Home Builders v. Young
California Court of Appeal
APPEAL from a judgment of the Superior Court of Los Angeles County. Prank G. Pinlayson, Judge. Affirmed. The facts are stated in the opinion of the court.
1Opinion of the CourtBrittain, J.
Five former directors of the plaintiff, a going corporation, appeal from a judgment for something over thirty thousand dollars, the aggregate of three dividends paid during their administration, the trial court having found that none of the dividends was paid from surplus profits.
Under two broad contentions, that section 309 of the Civil Code does not permit the maintenance- of such an action as this by a corporation except for the benefit of creditors, and that good faith on the part of the directors is a complete defense to such an action, numerous questions are presented. Except in one…
2Cases cited28 opinions
- People v. O'BryanCalifornia Supreme Court · 1913
- Wickersham v. CrittendenCalifornia Supreme Court · 1892
- Winchester v. HowardCalifornia Supreme Court · 1902
- Gray v. DarlingtonSupreme Court of the United States · 1872
- Kreamer v. EarlCalifornia Supreme Court · 1891
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3Cited by13 opinions
- SEC. Nat. Bank v. Peters, Writer & ChristensenColorado Court of Appeals · 1977
- Mindenberg v. Carmel Film Productions, Inc.California Court of Appeal · 1955
- Saracco Tank & Welding Co. v. PlatzCalifornia Court of Appeal · 1944
- Peterson v. BallCalifornia Supreme Court · 1931
- Pourroy v. GardnerCalifornia Court of Appeal · 1932
8 more not listed; retrieve them via the Exa API.