McCALLUM v. CAMPBELL-SIMPSON MOTOR CO.

No. 8772.

349 P.2d 986 (1960)

John G. McCALLUM, Plaintiff-Cross-Defendant-Appellant, v. CAMPBELL-SIMPSON MOTOR CO., a corporation, Defendant-Cross-Complainant-Respondent. IDAHO FIRST NATIONAL BANK, a national banking association, Plaintiff in Intervention-Respondent, v. John G. McCALLUM, Defendant in Intervention-Appellant.

Supreme Court of Idaho.

On Rehearing March 22, 1960.


Attorney(s) appearing for the Case

Anderson, Kaufman & Anderson, Boise, for appellants.

Givens, O'Leary, Doane & Givens, Davison & Davison, Boise, for respondent.


KNUDSON, Justice.

On May 16, 1957, respondent Campbell-Simpson Motor Co. (hereinafter referred to as respondent Motor Company) owned and held all of the issued capital stock, amounting to 1200 shares, of the Campbell-Simpson Buick, Inc. (hereinafter referred to as the Buick Company), an Idaho corporation. Said stock had a book value as shown by the books of said Buick Company, as of April 30, 1957, amounting to $113,894.88, less repossession reserves of $13,204.54...

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