WINDES, Justice.
Pacific Western Enterprises, Inc., hereinafter designated as Western, was engaged in the business of manufacturing refrigeration equipment and had become indebted to the State Equipment & Supply, Inc., plaintiff in the trial court, in the sum of $16,869.40 which was past due and unsecured. Western was in need of additional operating capital. All dates hereinafter mentioned refer to 1952 unless otherwise designated. On March 4th, the board of directors...
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