Security Trust Co. v. Lipscomb County

MR. JUDGE SMEDLEY

of the Commission of Appeals delivered the opinion for the Court.

Respondents, Lipscomb County and six other counties of the State of Texas, sued petitioners, Security Trust Company of Austin, Texas, a dissolved corporation, and several individuals who are directors and stockholders of the dissolved corporation, to recover judgment on separate claims of indebtedness aggregating about $500,000.00. The trial court sustained a number of exceptions to the second amended original petition and when respondents declined to amend, dismissed the suit. That judgment was reversed by the…