Santa Cruz R.R. v. Schwartz
This text of 53 Cal. 106 (Santa Cruz R.R. v. Schwartz) is published on Counsel Stack Legal Research, covering California Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The “ prospectus ” to which the signature of the defendant was obtained contemplated an organization of the proposed corporation only after securing subscriptions for one hundred and fifty thousand dollars. The organization was, however, subsequently, and without the consent of the defendant, effected when subscriptions for only one hundred and thirty thousand dollars had been obtained. This was a clear departure from the scheme set forth in the “ prospectus ” to which the defendant had become a party, and it operated to release the defendant, at his option, from proceeding further in the business.
'Judgment affirmed.
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Cite This Page — Counsel Stack
53 Cal. 106, Counsel Stack Legal Research, https://law.counselstack.com/opinion/santa-cruz-rr-v-schwartz-cal-1878.