Futrell v. Wagner

In this action for declaratory' relief, plaintiffs seek a declaration that they own the vendors’ interest under a land sale contract and also seek a money judgment for the contract payments that have been made to defendants. After trial to the court, it entered a judgment declaring defendants to be the owners of the vendors’ interest. Plaintiffs appeal.

Plaintiff Jack Futrell obtained a certificate of authority from the U.S. Department of Agriculture to market a new type of wheat that he had developed. He organized Futrell Cereals, Inc. (the corporation) to market it for breakfast cereals.…