Dixie Cab Company v. Black White Cab Company

Minor W. Millwee, Justice.

The Dixie Cab Co. was incorporated in 1938 for the purpose of furnishing taxi service primarily to the colored inhabitants of the City of Fort Smith, Arkansas. On August 22, 1945, Elmer Brown, who owned one-half interest in the corporation, entered into a conditional sales cpntract for the purchase of the other half interest from the owners, William Jones and wife, Ora Jones, for a stipulated consideration of $2,250, $1,600 of which was paid in cash with the balance of $650 payable $50 monthly. Brown made the monthly payments for several months, but became further…