Rapides Grocery Co. v. Grant

The three defendants father and two sons, by notarial act, formed and constituted a corporation, under the name and style of R. H. Grant, Inc., for the purpose of conducting a wholesale or retail mercantile business at the town of Boyce, in the parish of Rapides.

The capital stock was 'fixed at $60,000, divided into 600 shares, of the par valúe of $100 each, all of which, the charter recites, was subscribed and paid for by the three signatories, as follows: R. H. Grant, 420 shares; O. E. Grant, 179 shares; and R. H. Grant, Jr., one share.

The three incorporators were constituted the first board…