El T. Mexican Restaurants, Inc. v. Bacon

OPINION

ANDELL, Justice.

In this case we must decide whether the sole shareholder of an existing corporation that has had its charter forfeited for failure to pay franchise taxes, but that has not been dissolved, can become a successor in interest to the corporation, such that the shareholder may bring suit personally and recover individually on the corporation’s cause of action. We hold that he may not.

This is a suit on an oral agreement. Appellant, El T. Mexican Restaurants, Inc., ap peals from a $31,918.06 judgment on the verdict in favor of appellee, J. Roland Bacon, who was the sole…