JONES VALLEY FINANCE CO. v. TENNILLE

6 Div. 442.

115 So.2d 504 (1959)

JONES VALLEY FINANCE CO., Inc. v. Melvin TENNILLE and Dorothy S. Brown.

Supreme Court of Alabama.

November 5, 1959.


Attorney(s) appearing for the Case

Davies, Williams & Wallace, Birmingham, for petitioners.

Arthur D. Shores, Birmingham, opposed.


LIVINGSTON, Chief Justice.

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...

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