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SILVER HILLS COUNTRY CLUB v. SOBIESKI

Docket No. S.F. 20664.

55 Cal.2d 811 (1961)

361 P.2d 906

13 Cal. Rptr. 186

SILVER HILLS COUNTRY CLUB et al., Respondents, v. JOHN G. SOBIESKI, as Commissioner of Corporations, Appellant.

Supreme Court of California. In Bank.

May 18, 1961.

Attorney(s) appearing for the Case

Stanley Mosk, Attorney General, Harold B. Haas and Victor Griffith, Deputy Attorneys General, for Appellant.

Broun & King and LeRoy A. Broun for Respondents.

TRAYNOR, J.

Petitioners are partners in a venture to organize the Silver Hills Country Club in Marin County and to conduct it as a business for profit. In June 1959 they contracted to purchase for $75,000 a 22-acre ranch including a 10-room house, two smaller houses, a stable, and other improvements. The contract of sale provided for a down payment of $400, a payment of $50,000 18 months from the date of the contract, and the payment of $1,000 a month to begin three...

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