Walker v. Howell

A preliminary question involved in this general controversy was previously considered and determined by this court. McPherson v. Commercial Bldg. & Sec. Co., 206 Iowa 562. Many of the facts are recited in'that opinion.

The Commercial Building & Securities Company was organized under the laws of Iowa in January, 1920. Authority was thereby given the corporation to conduct a real estate and personal property investment business, with power to purchase, exchange, lease, or otherwise acquire real estate, plat, subdivide, and improve the same; and for that purpose this business concern was granted…