Allen v. Cal. Mut. Bldg & Loan Ass'n

I dissent. The majority opinion concedes not only that plaintiffs failed to present a claim to the Building and Loan Commissioner pursuant to section 13.16 of the Building and Loan Association Act (Deering’s Gen. Laws, Act 986) but that under a proper construction of the act' they could not be regarded as investors excused from presenting claims since their claims did not appear on the books of the association. Plaintiffs are thus allowed to recover without complying with the statutory conditions to recovery. I do not agree that this paradox is compelled by the doctrine of the law of the case.