Smith v. Stone

SWINFORD, District Judge.

In 1953, the plaintiff, Lora Jean Smith, her husband, Jack Smith, and the defendants, W. B. Stone and Betty Call Stone, husband and wife, entered into the formation of a corporation known as the Stone & Smith Coal Company, Inc. Of the fifty shares of stock issued by the corporation, Lora Jean Smith owned twenty-four shares, her husband, Jack Smith, one share, the defendant, Betty Call Stone, twenty-four shares, and her husband, W. B. Stone, one share. The purposes of the corporation were to conduct a coal business in Buchannan County, Virginia, which comprised the…