|
P1103 Instead of precluding a corporation from presenting a defense on the ground that its corporate powers had been suspended for failure to file an annual statement, the trial court should have granted a short continuance to enable the corporation to seek reinstatement; a guarantor's liability cannot exceed that of its principle debtor, so upon reinstatement of the corporation's powers and trial of the action against it, the trial court might be required to vacate a judgment taken against the corporation's guarantor and enter a new one to conform to any judgment rendered against the corporation.CitationCADLE CO v WORLD WIDE HOSPITALITY (Suspended Corporation) 144 CA4 504 [See: CCP 631; CorpC 1502, 2205; CivC 2809; Grafton Partners v Superior Court 36 C4 944, P/AT 9/05; Brunswick v Hays 16 CA3 134]
|
|
