[Download] "Nineteen Corp. V. Guaranty Financial Corp." by Supreme Court of Arkansas # Book PDF Kindle ePub Free

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eBook details

• Title: Nineteen Corp. V. Guaranty Financial Corp.
• Author : Supreme Court of Arkansas
• Release Date : January 17, 1969
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 64 KB

Description

This litigation originated in the Chancery Court of Jefferson County, Arkansas. The appellee was the plaintiff in the lower court. The complaint alleges that Guaranty Financial Corporation, the plaintiff, was the owner of all of the outstanding capital stock of Universal Insurance Company. That on or about October 1, 1967, it entered into a written contract with the defendant, Nineteen Corporation, a corporation organized and existing under and by virtue of the laws of Texas, whereby the plaintiff agreed to sell and the defendant agreed to purchase all of the outstanding common stock of the Universal Insurance Corporation pursuant to a written contract, a copy of which was attached to the complaint. The contract recites a cash consideration of $141,000 and a further consideration of the transfer of $175,000 in principal amount of first real estate mortgage loans qualifying as investments under the insurance laws of the State of Arkansas. The total consideration is admitted by the defendant, Nineteen Corporation.

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