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JAMES v. J. F. K. CARWASH, INC.

No. 81-196.

628 S.W.2d 299 (1982)

Charles E. JAMES, Appellant, v. J. F. K. CARWASH, INC., Billy D. Mansell, and David F. Grubbs, Appellees.

Supreme Court of Arkansas.

Rehearing Denied March 22, 1982.

Attorney(s) appearing for the Case

Tucker & Stafford, Little Rock, for appellant.

Thurman & Capps, Ltd., by Rita W. Gruber, North Little Rock, for appellees.

DUDLEY, Justice.

The issues on appeal are whether a corporate promissory note which was given for an ultra vires repurchase of corporate stock is void and whether there is liability because of an accompanying personal guaranty of the corporate promissory note. Jurisdiction in this court is pursuant to Rule 29(1)(c) as the appeal involves the interpretation and construction of Ark.Stat.Ann. § 64-105 (Repl.1980), which...

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