Wolf v. St. Louis Independent Water Co.

Citations

• 15 Cal. 319

Syllabus

<p>A party who permits himself to stand on the hooks of a water company, incorporated under the statutes of this State, as a stockholder, and holds the office of secretary—to which no person but a stockholder is eligible—is not a competent witness for the company, in an action against it for overflowing plaintiffs’ mining claim. He is liable for the debts of the company, and, therefore, interested.</p> <p>The fact, that the stock was held in his name in trust for another—the transfer having been made simply to enable him to become an officer of the company— does not relieve him from responsibility.</p> <p>The trust, in such case, is only implied; and the seventeenth section of the Corporation Act of 1853, applies only to the trustee of an express trust.</p> <p>In such action, the fact that plaintiffs could have prevented the damage by pulling off a board from defendant’s flume, and permitting the water to discharge above plaintiffs’ claim, is no defense, because they were not obliged to avoid the injuries complained of by committing a trespass.</p>