McAlister v. Eclipse Oil Co.

This suit was filed in the District Court of Jefferson County, Texas, by Eclipse Oil Company, alleged to be “a corporation organized and existing under the laws of the State of Texas.” As finally tried, the Oil Company sought judgment against G. R. McAlister, cancelling stock therein in his name of the par value of $10,000.00. Also, the Oil Company sought a money judgment against McAlister for the sum of $2500.00, with interest. The cancellation of the $10,000.00 of stock was sought on the theory that it was issued without any valid, adequate, *451or sufficient consideration, and as a result of…