Pargas of Canton, Inc. v. Clower

SELLERS, Justice.

About April 30, 1965, and just prior thereto, Pargas of Maryland, a foreign corporation, was negotiating with Butane Supplies, Inc., a Texas corporation, for the purchase of that company in Tyler, Texas. The stock of that company was owned by a Mr. Pickens, and Mr. Robert J. Woodall was Secretary and an officer of Butane Supplies, Inc. During these negotiations, Pargas of Maryland desired also to buy County Butane of Canton. The majority of the stock of that company was owned by Lee Jennings, Chile Campbell, and appellee, W. A. Clower. These three men were operating County…