Powelson v. National Airlines, Inc.

Appellant, Dennis Powelson, brought this action in the Circuit Court of Harrison County against appellee, National Airlines, Inc., to recover damages for an alleged breach of contract for the purchase by appellee of shares of stock owned by appellant in Caribbean-Atlantic Airlines, Inc. In 1945 Powelson was the majority stockholder in and president of Caribbean-Atlantic Airlines, Inc., hereafter referred to as Caribbean. G. T. Baker was president and chairman of the board of directors of National Airlines, Inc., hereafter called National, and also its controlling stockholder. Caribbean was a…