Smith v. McLain Orchard Co.

Citations

• 75 Wash. 27
• 134 P. 469
• 1913 Wash. LEXIS 1669

Syllabus

<p>COBPORATIONS-STOCKHOLDERS-ACTIONS-MONEY LENT — EVIDENCE —Sufficiency. The evidence is insufficient to sustain findings that money advanced by plaintiff, while a stockholder, was loaned to the corporation, where it appears that three stockholders, each holding one-third of the stock, agreed to contribute equally the moneys required to be expended on farm lands belonging to the corporation, which was done, and plaintiff’s letters clearly negative that his advances were loans repayable by the corporation, and he made no such claim until after he had disposed of his stock in the corporation.</p>