Hodges Realty Co. v. John Smiley's Motel, Inc.

My difference of view with the majority is that they fail to understand the legal principles that control this case.

It is not disputed that George Hodges and his mother were two of the three original incorporators of John Smiley’s Motel, Inc. They co-owned Hodges Realty Co., Inc., the plaintiff below, and subsequently assigned their two shares of stock to that entity. The third incorporator was Mary Lockhart, who was Mr. Lovell’s mother. The incorporation agreement, which was dated October 20, 1967 and introduced as Plaintiff’s Exhibit No. 4, contained this information in Section V:

“The names…