Johnson v. Langley

This is a fraud case. The defendants and plaintiff formed a corporation to open and operate a restaurant in 1980. The defendants/appellants, Van O. Johnson and his wife Betty, owned half of the stock in the corporation and the plaintiff/appellee, Charles Langley, owned the other half. Defendant Betty Johnson was given stock apparently because it took three people to form a corporation in Alabama at that time. Defendant Van Johnson owned a parcel of real estate in Winfield, Alabama. He and the plaintiff negotiated a deal whereby they would be "50/50" owners in the corporation, to be called…