JONES v. CARTER CONST. CO., INC.

No. 79-39.

583 S.W.2d 63 (1979)

Vance JONES, Director, Department of Finance and Administration, State of Arkansas, Appellant, v. CARTER CONSTRUCTION COMPANY, INC., Appellee.

Supreme Court of Arkansas, In Banc.

July 9, 1979.


Attorney(s) appearing for the Case

Robert G. Brockman, Jack East, III, Barry E. Coplin, H. Thomas Clark, Timothy J. Leathers, Little Rock, for appellant.

Ted Boswell, P. A., Bryant, for appellee.


FOGLEMAN, Justice.

Pursuant to a merger agreement entered into on December 1, 1974, the appellee, Carter Construction Company, Inc., acquired all of the assets of Carter and Cleaver Construction Company, Inc., on January 1, 1975. Both corporations were engaged in the construction business and therefore the assets acquired by the appellee, the surviving corporation, consisted primarily of heavy machinery and equipment. Prior to the merger, Carter and Cleaver had incurred...

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