Texmarc Conveyor Co. v. Arts

OPINION

BOWERS, Justice.

Appellant appeals from a judgment in favor of appellee for principal, interest and attorney fees on a demand note. Henry F. Arts founded Texmarc Conveyor Company (Texmarc) in 1965. He and his family were the sole shareholders until June, 1986, when he sold a majority of shares to Frank Kay. After the sale of the stock, Arts continued working at Texmarc as an employee until the employer-employee relationship deteriorated and Kay terminated Arts on February 16, 1987. The following day, Arts submitted a demand note for $41,770.71 to Kay. After trial to the court, judgment…