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LASSALLETTE v. PARISIAN BAKING CO.

Docket No. 14911.

110 Cal.App.2d 375 (1952)

242 P.2d 671

BERNARD LASSALLETTE, Appellant, v. PARISIAN BAKING COMPANY (a Corporation) et al., Respondents.

Court of Appeals of California, First District, Division One.

April 15, 1952.

Attorney(s) appearing for the Case

William Petros for Appellant.

W.P. Caubu for Respondents.

WOOD (Fred B.), J.

The answer to the sole question upon this appeal depends upon the meaning of "book value" as used in a by-law of the defendant corporation.

[1a] The by-law requires the holder of any of the corporate shares, desiring to sell them, first to offer them to the corporation "at the net book value of the assets, that is, plant investment, inventories, accounts receivable, cash and other assets, less debts and liabilities and suitable...

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