Tulare Irrigation District v. Kaweah Canal & Irrigation Co.

Citations

• 5 Cal. Unrep. 330
• 44 P. 662
• 1896 Cal. LEXIS 1114

Syllabus

<p>Corporation—Purchasing Its Own Stock.—The purchase by a corporation of a part of its own stock, until it is reissued, in effect reduces its stock to that extent.</p> <p>Corporation—Sale of All Its Property.—The sale by a corporation of all its property and franchises, except its corporate franchise, does not carry with it shares of its own stock, which it had bought in for delinquent assessments, and had not authorized to be reissued.1</p>