Burham v. San Francisco Fuse Manufacturing Co.
Burham v. San Francisco Fuse Manufacturing Co.
Opinion of the Court
—The order of the 2d of June directing a sale of the delinquent stock of plaintiff was irregular, and any sale upon thirteen days’ notice would have given to the purchaser no title which he could assert
It may be said the rule thus laid down will encourage sales without the notice which the statute declares to be necessary, and proceedings of the character which are declared to be void by section 346. But the context shows the sense in which the word “ void ” is employed. It is intended thereby to declare that the irregular proceedings shall be inoperative to confer an indefeasible title to the stock as against the owner, who shall make tender of the assessment, and bring suit for its recovery within the time prescribed in section 347. As the complaint did not state a cause of action, the suit was properly dismissed.
Judgment and order affirmed.
Seabls, C. J., and Patebson, J., concurred.
Reference
- Full Case Name
- CHARLES F. BURHAM v. SAN FRANCISCO FUSE MANUFACTURING COMPANY
- Cited By
- 5 cases
- Status
- Published
- Syllabus
- Injunction—Corporation—Sale por Delinquent Assessment—Insufficient Publication of Notice of Sale. —An injunction will not issue to restrain the sale of stock to satisfy a valid assessment thereon which had become delinquent, merely because the notice of the sale was published for an insufficient length of time, unless the stockholder has paid, or offered to pay, the amount of the assessment.