Smith v. Diplock

The issue between the parties in this case is as to the character of a transfer of property.

The parties for several years had each owned ninety-nine of the two hundred shares of a corporation engaged in the business of retailing furniture and one-half, in common and undivided, of the store used in the business and the lot on which it stands, in Augusta.

The defendant had been in the business for thirty-four years, and engaged in the real estate business for twenty-five years at time of hearing.

In 1921, the Wallace Diplock Co., a corporation, was formed, Mrs. Diplock and Mrs. Smith each holding…