Systematics, Inc. v. Mitchell

491 S.W.2d 40 (1973)

SYSTEMATICS, INC., Appellant,

v.

Don B. MITCHELL, Appellee.

No. 5-6157.

Supreme Court of Arkansas.

January 29, 1973.

Rehearing Denied March 5, 1973.

Smith, Williams, Friday, Eldredge & Clark, by Jerry T. Light and Lewis H. Mathis, Little Rock, for appellant.

Walter Niblock and Bobby L. Odom of Niblock & Hipp, Fayetteville, for appellee.

GEORGE ROSE SMITH, Justice.

On June 30, 1969, the appellant, Systematics, Inc., a comparatively young company supplying services based upon data processing, issued to the appellee, an employee, 15,000 shares of Systematics stock at a price of ten…