(Download) "Don Mccarley v. Royce Hopkins" by Court of Criminal Appeals of Texas # eBook PDF Kindle ePub Free
eBook details
- Title: Don Mccarley v. Royce Hopkins
- Author : Court of Criminal Appeals of Texas
- Release Date : January 07, 1985
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
Don McCarley and a partner owned All Seasons Travel Agency. In 1981, McCarley began negotiating the merger of All Seasons with Travel Innovations, Inc., which was a Texas Corporation owned and operated by Royce and Mollie Hopkins. During the negotiations, McCarley and Royce Hopkins decided that McCarley would have to buy out his partner. To do this Royce Hopkins had to replace McCarleys partner as a guarantor on a bank loan that All Seasons had outstanding. Royce Hopkins also loaned McCarley $20,000 to buy out his partner and in return received a promissory note and a security interest in All Seasons. Thereafter, Travel Innovations of Texas, Inc., (TIOT) was formed for the purpose of merging All Seasons and Travel Innovations. After the assets of both agencies were transferred to TIOT, but before the merger papers were signed, a dispute arose concerning the composition of both the board of directors and the officers as well as the proposed issuance of TIOT stock. This dispute precipitated a suit by McCarley against the Hopkinses and Travel Innovations, Inc. In the suit, he alleged a breach of an express and implied contract, unjust enrichment, breach of a joint venture or partnership, fraud, wrongful appropriation, and asked for an accounting. The Hopkinses answered these allegations and asserted that they were not liable in the capacity in which they were sued, and that they did not enter into a partnership or joint venture with McCarley. Additionally, Royce Hopkins filed a counterclaim for default of the promissory note and for fraud in the execution of the promissory note.
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