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MERRYWEATHER v. PENDLETON

No. 6572.

90 Ariz. 219 (1961)

367 P.2d 251

Hubert MERRYWEATHER, Appellant, v. T.T. PENDLETON, J.B. Pendleton, James V. Robins, Baca Float Ranch, Inc., an Arizona corporation, et al., and Valley National Bank of Phoenix, a national banking association, Appellees.

Supreme Court of Arizona, En Banc.

Rehearing Granted April 24, 1962.

Attorney(s) appearing for the Case

Nasib Karam, Nogales, and Herbert Mallamo, Phoenix, for appellant.

Darnell, Holesapple, McFall & Spaid, Tucson, for appellee T.T. Pendleton.

Gust, Rosenfeld, Divelbess & Robinette, Phoenix, for appellee Valley Nat. Bank of Phoenix.

UDALL, Justice.

Hubert Merryweather, plaintiff below and appellant here, brought an action to have an agreement with T.T. Pendleton, in the form of an absolute sale of certain shares of stock with an option to repurchase, declared to be an equitable mortgage or pledge. In the alternative the plaintiff contended that if the court should find the agreement was in fact a sale absolute it should also find (1) that plaintiff tendered payment under the option, (2) that...

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