Johnson v. Nychyk

OPINION

OGG, Judge.

In October, 1964 the plaintiffs Bill Ny-chyk and Inez Nychyk, husband and wife, met with appellants Ben Johnson and Sam L. Linder and cross-appellee Wesley G. Green (all originally defendants) in Phoenix to discuss an outdoor theater venture which the defendants desired to promote. At the meeting the parties agreed that the plaintiffs would invest $60,000.00 to finance the venture which was to be operated by a new corporation, Cinema International. Plaintiffs were to receive 25 percent of the stock in the corporation for their investment and the defendants were to receive 75…