Smith v. Jones

Birdsong, Judge.

Summary judgment. The appellant D. L. Smith invested $20,000 in a joint venture together with. several others in Intersouth, Inc., a land development company wholly owned by the appellee, T. D. Jones. Smith initially invested in a trailer court site. That enterprise did not come into fruition. Jones had executed a separate letter agreement with Smith that if the trailer court enterprise did not successfully evolve, Jones would return the entire investment to Smith or reinvest Smith’s share in some other enterprise. Jones issued a new agreement wherein the trailer site…