Akers v. Corbett

Thomas, J. —

Appellant brought suit in the Circuit Court against J. E. Corporation and L. O. Corbett, individually and as its president and treasurer, alleging, in substance, that the principal asset of the corporation was a hostelry known as Tropics Hotel. The basis of the action' was an agreement signed by appellant and appellee L. O. Corbett stipulating that the latter would sell to the former twenty-four of the forty-eight shares of the stock he owned and would convey the remainder as security until all indebtedness had been discharged, in which event the twenty-four shares held as…