Matrimonial Mut. Ass'n of v. Rutherford

In 1928, appellant S. F. Lamb and three others organized the Matrimonial Mutual Association, an unincorporated association. Shortly thereafter S. F. Lamb and wife, G. O. Lamb, purchased the interest of his three partners in the association. S. F. Lamb testified that, after he bought out his three partners, he became the sole owner of the association ; that he was the manager and owner thereof; that no one else had any interest in the company; that they were doing business -as a partnership, and that he and his wife were running it; that he personally bought out his partners’ interest; that,…