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THORNTON v. THORNTON FARMS, INC.

No. 87-297.

526 So.2d 315 (1988)

Bertha P. THORNTON, et al., Plaintiffs-Appellants, v. THORNTON FARMS, INC., Defendant-Appellee.

Court of Appeal of Louisiana, Third Circuit.

Rehearing Denied June 21, 1988.

Attorney(s) appearing for the Case

Patrick F. McGrew, Baton Rouge, for plaintiffs-appellants.

Sessions, Fishman, Rosenson, Boisfontaine & Nathan, Max Nathan, Jr., Anthony Dunbar, New Orleans, for defendant-appellee.

Before DOMENGEAUX and GUIDRY, JJ., and REGGIE, J. Pro Tem.

EDMUND M. REGGIE, Judge Pro Tem.

The issue on appeal is whether good title and ownership of improperly issued corporate stock may thereafter be acquired by either three or ten year acquisitive prescription and who bears the burden of proof in an action on the alleged impropriety of the stock issuance.

FACTS

Thornton Farms, Inc., a family farm business, was organized by the father, Albert A. Thornton, Sr., (Albert, Sr.), who was issued 104 shares...

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