63 Cal. 571 | Cal. | 1883
The instrument of the 14th day of April, 1871, signed by all of the subscribers to the capital stock of the “Terminal Railroad Company,” except the defendant Bacon, operated to transfer to Stanford, Huntington and Hopkins all of the stock of such subscribers.
If it be admitted that the relations of the defendant Bacon and the other subscribers are not to be ascertained by reference to the resolutions of the directors of the corporation, but
As between the plaintiffs and defendant Bacon, the court may have found that the latter was the agent for them, and of the other subscribers, authorized to make joint sale of the stock of the corporation held by them and the other subscribers, and that he did in fact make such sale, because there was evidence tending to prove that he induced plaintiffs to believe such was the actual relation between them. The question is not whether plaintiffs could assert, as against the other subscribers to the instrument, that there was a joint sale, but whether they can assert this against the defendant Bacon. He — assuming plaintiffs’ testimony to be true —had no understanding with plaintiffs, severally, that they should sell their stock to Mm. On the contrary it was distinctly understood that they, with the other
Of course, the foregoing is based upon the assumption of the existence of facts such as are necessarily implied by the general findings and judgment of the Superior Court, since there was at least a substantial conflict in the evidence.
Judgment and order affirmed.
Hearing in Bank denied.