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NEVADA LAND AND MORTGAGE COMPANY v. LAMB

No. 7382.

524 P.2d 326 (1974)

NEVADA LAND AND MORTGAGE COMPANY, a dissolved corporation, et al., Appellants, v. Frank W. LAMB, Respondent.

Supreme Court of Nevada.

July 3, 1974.

Attorney(s) appearing for the Case

Morse, Foley & Wadsworth, Las Vegas, for appellants.

Beckley, Singleton, DeLanoy & Jemison, Las Vegas, for respondent.

OPINION

ZENOFF, Justice.

Nevada Land and Mortgage Company, a corporation now dissolved, acknowledged that it was indebted to Frank Lamb for the sum of $15,083.87. Although recognizing its obligation to pay Lamb, the corporation through its officers and directors without making payment or arrangements therefore transferred the bulk of its assets to Leroy Corporation in exchange for 36,158 shares of Leroy's stock which were then distributed to Nevada Land...

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