Jones Valley Finance Co., Inc. v. Tennille
Supreme Court of Alabama
Jones Valley Finance Co., Inc. v. Tennille, 270 Ala. 738 (Ala. 1959)
115 So. 2d 504; 1959 Ala. LEXIS 590
Livingston, Lawson, Stakely, Merrill
Jones Valley Finance Co., Inc. v. Tennille
Opinion of the Court
As we understand the opinion of the Court of Appeals, it is based on a finding by that court that the certificates evidence the owners of preferred stock as distinguished from a certificate of indebtedness, and that they do not include a promise to pay interest. This finding is based on the evidence, and the Court of Appeals held that the stock certificates were not the sole memoranda of the agreement between the parties.
So considered, we think the writ should be denied. It is so ordered.
Writ denied.
Reference
- Full Case Name
- Jones Valley Finance Co., Inc. v. Melvin Tennille and Dorothy S. Brown.
- Cited By
- 7 cases
- Status
- Published