Welborne v. Preferred Risk Insurance Co.

Carleton Harris, Chief Justice.

This appeal results from a decree entered hy the Chancery Court wherein the complaint of appellant seeking specific performance of an alleged agreement, was dismissed for want of equity.

Suit was instituted hy appellant on May 28, 1958, seeking to enforce alleged rights under a pre-incorporation subscription offer executed hy him in favor of appellee on March 31, 1954. Prior to this time, Welborne was a stockholder and member of the Board of Directors of Preferred Risk Mutual Insurance Company. On the aforesaid date, the mutual insurance company was converted to…