Randolph v. Nichol
Supreme Court of Arkansas
Appeal, from Crittenden Chancery Court. ' STATEMENT BY THE COURT. On September i, 1844, various owners of lands in Critten-den County, Arkansas, and Shelby County, Tennessee, formur lated a joint scheme for .the disposition of ’ their lands by the organization of a voluntary association (unincorporated), called the Memphis & Hapefield Real Estate Stock Association, and pursuant to said plan they conveyed said lands to John S. Clay-brook and Seth Wheatly,. as trustees, who…
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Appeal, from Crittenden Chancery Court. ' STATEMENT BY THE COURT. On September i, 1844, various owners of lands in Critten-den County, Arkansas, and Shelby County, Tennessee, formur lated a joint scheme for .the disposition of ’ their lands by the organization of a voluntary association (unincorporated), called the Memphis & Hapefield Real Estate Stock Association, and pursuant to said plan they conveyed said lands to John S. Clay-brook and Seth Wheatly,. as trustees, who issued stock in said association to the several owners of the lands in proportion to the values of the tracts so conveyed…
1Opinion of the Court
McCulloch, J.,
(after stating the facts.) It was the purpose of the active litigants in this suit, of which the so-called cross complaint of appellees and the proceedings had thereunder formed a part, to wind up the affairs of the joint association, and dispose of its assets, and distribute the same among the holders of the stock. The court so treated the suit, and every step taken throughout its lengthy course tended in that direction. Every person interested as owner of stock or creditor of the concern was a proper party, and should have been admitted to assert any rights. Appellees were…
2Cases cited1 opinion
- Halstead v. GrinnanSupreme Court of the United States · 1894
3Cited by14 opinions
- Askew v. Murdock Acceptance CorporationSupreme Court of Arkansas · 1955
- Livingston v. New England Mortgage Security Co.Supreme Court of Arkansas · 1906
- Kulbeth v. PurdomSupreme Court of Arkansas · 1991
- Ware v. StateSupreme Court of Arkansas · 1920
- Mt. Nebo Anthracite Coal Co. v. MartinSupreme Court of Arkansas · 1908
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