Walton v. Johnson

Candler, Justice.

On November 6, 1952, and “for value received,” H. G. Walton sold and by a written instrument assigned and transferred to Herbert Johnson 95 shares of common stock in a corporation known as Kirkwood Courts Apartments, Inc., each share having a par value of $100. Walton later instituted bail trover in the Civil Court of Eulton County against Johnson to recover the stock, alleging that its sale was void for want of any consideration. Subsequently, Johnson filed in the Superior Court of DeKalb County against Walton an equitable suit, the allegations of which are in substance as…