Dungan v. Smith

OPINION

E. T. HENSLEY, Jr., Chief Judge, Court of Appeals.

Dungan Homes, Inc., a New Mexico' corporation, was in 1962 engaged in the manufacture and sale of various components for the home-building industry. It was a prefabricating facility. The location of the plant and its office was near Roswell,' New Mexico. The authorized stock in the corporation consisted of 800 shares.! Clyde Dungan owned 396 shares; John B. Allen, Jr., owned 396 shares; and the remaining 8 shares were owned by the attorney for the corporation. At the same time, in Clovis, New Mexico, W. W. Smith was engaged in building…