Kratz v. Mills

Guy Amsler, Justice.

This is an appeal by Claire B. Kratz and Claire Knighten Lake (plaintiffs below) from a summary judgment.

Twin City Development Company was incorporated in 1915 and purchased property in Pulaski County, Arkansas. In 1923, the corporate charter was forfeited for failure to pay franchise taxes to the State of Arkansas. According to the corporation stock book, 200 shares of Twin City stock were outstanding. The stockholders at the time of forfeiture were Charles H. Miller, 25 shares; A. C. Butterworth, 25 shares; Ben. J. and M. L. Altheimer, 50 shares; C. G. Price, 25 shares…