(Download) "Hogan V. Ingold" by Supreme Court Of California ~ Book PDF Kindle ePub Free

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Title: Hogan V. Ingold
Author : Supreme Court Of California
Release Date : January 22, 1952
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 66 KB

Description

This case presents to this court for the first time the question as to whether section 834 of the Corporations Code*fn1 (Stats. 1949, ch. 499, § 1) is validly applicable to a stockholder's derivative suit commenced after the effective date of the statute but concerning wrongs allegedly committed before that date and which suit is instituted by a shareholder who acquired his stock otherwise than by operation of law, and at a time subsequent to the commission of the wrongs complained of but prior to enactment of the statute. We conclude that the statute is procedural, that application of it here is prospective and does not divest the plaintiff of any substantive vested right, and that the order of the trial court dismissing the action for failure to furnish security for costs and expenses as required should be affirmed.