World Oil Co. v. Hicks

Prior to January 1, 1926, the World Oil Company was chartered under the statutes of Texas, with an authorized capitalization of $300,000, and all of that capital stock had been duly subscribed, fully paid for, and issued to some 7,000 individuals, including Chester R. Bunker, who was the president of the corporation. On or about May 20, 1926, by an amended charter duly filed, the capital stock was increased from $300,000 to $1,600,000.

This suit was instituted by L. R. Hicks to recover of Chester R. Bunker and the corporation on a parol contract which he alleged was made with him by Bunker,…