Boone v. Burden

McAllister, j.

This is a suit to set aside a transfer of corporate stock allegedly transferred in fraud of creditors. The trial court found that the transfer was not fraudulent and dismissed the suit. We affirm.

The complaint alleges that plaintiffs Boone and Schulz each have a judgment against defendant Burden; that Burden is insolvent; and the judgments remain unsatisfied. It also alleges that Burden owned 300 shares of stock in Inventors Development Association, Inc., and that he transferred those shares and other assets to defendant Hammerstrom without consideration. Plaintiffs also allege…