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SOUTHERN CAL. FIRST NAT. BANK v. QUINCY CASS ASSOCIATES

Docket No. L.A. 29773.

3 Cal.3d 667 (1970)

478 P.2d 37

91 Cal. Rptr. 605

SOUTHERN CALIFORNIA FIRST NATIONAL BANK, as Administrator With the Will Annexed, etc., Plaintiff and Respondent, v. QUINCY CASS ASSOCIATES et al., Defendants and Appellants.

Supreme Court of California. In Bank.

December 17, 1970.

Attorney(s) appearing for the Case

COUNSEL

Hansen & Dolle and Victor R. Hansen for Defendants and Appellants.

Beardsley, Hufstedler & Kemble, Charles E. Beardsley and Harry L. Hupp for Plaintiff and Respondent.

OPINION

McCOMB, J.

Defendants appeal from a judgment in favor of plaintiff in an action to impose a constructive trust on certain stock.

Facts: Kenneth B. Cannon (hereinafter referred to as "decedent") owned a business which he desired to expand. January 18, 1950, he executed a letter agreement with defendant Quincy Cass Associates, a California corporation (hereinafter referred to as "QCA"), in which decedent agreed...

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