Dargin v. Hewlitt
Decision Date | 29 April 1897 |
Citation | 22 So. 128,115 Ala. 510 |
Parties | DARGIN et al. v. HEWLITT. |
Court | Alabama Supreme Court |
Appeal from city court of Birmingham; W. W. Wilkerson, Judge.
Bill by Thomas G. Hewlitt against H. Hayden Dargin and others for an accounting and for other relief. From a decree overruling demurrers to the bill, defendants appeal. Reversed.
Each of the respondents demurred to the bill upon the following grounds: There was also a motion made by each of the respondents to dismiss the bill for the want of equity. This motion was overruled.
Lane & White, for appellants.
Robert J. Lowe, for appellee.
The appellee, Hewlitt, having acquired options of purchase of certain real property in Jefferson county, known as the "Fair Grounds," containing about 80 acres, on or about April 1, 1895, contracted with appellant Dargin to sell said land to him at the price of $12,500 in cash, and for the further consideration that he (Hewlitt) should receive one-third of the proceeds of all privileges incident to the holding of fairs, races, or other events of like character upon said grounds. About 75 acres of the land were inclosed by a fence, within which there was a race track and buildings especially adapted to the holding of races and fairs. At the time of sale Hewlitt caused the property to be conveyed to Dargin by deeds of conveyance which were approved and accepted by him, and Dargin paid the stipulated cash consideration, and entered into the possession and enjoyment of the premises. On the 16th of January, 1896, Dargin caused a corporation to be organized by the name of the Alabama State Fair & Racing Association, under the general laws of Alabama, with an authorized capital of $50,000, divided into 500 shares of the par value of $100 each. Dargin subscribed for 498 of said shares, and respondents Crawford and Fox each subscribed for 1 share, and the entire subscription was paid by Dargin, by his conveyance of said property to the corporation, the deed bearing date April 1, 1896. The bill avers that Dargin is the real beneficial owner...
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