LEATHERMAN v. LEATHERMAN

No. 7725SC871.

248 S.E.2d 764 (1978)

38 N.C. App. 696

Bessie LEATHERMAN v. Floyd Herman LEATHERMAN and Leatherman, Inc.

Court of Appeals of North Carolina.

November 21, 1978.


Attorney(s) appearing for the Case

Rudisill & Brackett by J. Steven Brackett, Hickory, for plaintiff-appellee.

Patton, Starnes & Thompson by Thomas M. Starnes, Morganton, for defendants-appellants.


VAUGHN, Judge.

The first issue we address is whether the plaintiff had any ownership rights in the joint bank accounts which would entitle her to an interest in the stock. The funds in the bank accounts, $32,382.02, provided consideration for part of the stock of Leatherman, Inc. If the plaintiff owned part of these funds, then it is possible that a resulting trust could be imposed upon the stock. Where a party gives valuable consideration for property but title is...

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