Moody-Seagraves Ranch, Inc. v. Brown

MURRAY, Justice.

The issues involved in this suit arose in this manner.

Moody-Seagraves Company, Incorporated, was a holding company, and was in fact the parent corporation of a great number of subsidiary corporations. W. L. Moody III and O. R. Seagraves owned all of the stock of this parent corporation, each owning one-half thereof.

Some time before the controversy involved in this suit arose, O. R. Seagraves purchased more than 13,000 acres of land lying in Kerr and Kimble counties, and, while the title to this land was taken in the name of O. R. Sea-graves, the ranch in truth and in fact…