C. C. Leonard Lumber Co. v. Reed

LATIMER, Justice.

Appellee, Roscoe Reed, sought and .obtained cancellation of a deed conveying his lumber yard together with all machinery, tools, office equipment, fixtures, supplies, trucks and other personal property situated on the premises and used in connection with his lumber business. It appears that Reed for many years prior to the execution of .the deed operated a retail lumber business and had become involved in financial difficulties to the point of apparent insolvency. In December 1945 in order to extricate himself from these difficulties and for the apparent mutual interest of…