Minden Syrup Co. v. Applegate

TALIAFERRO, Judge.,

H. C. Applegate, defendant herein, prior to October 9th, 1931, was the owner of and conducted a business in the city of Minden, La., called the Minden Syrup Company. He interested Jonah M. Phillips and his son-in-law, Byron M. Lumpkin, in the business and induced them to join with him in the organization of a corporation to absorb his company and to carry on the business in the future. The petition alleges that Applegate submitted to Phillips and Lumpkin a statement of the assets and liabilities of the company, before incorporating, which showed the net assets to be…