Gulfport Land & Improvement Co. v. Ansley

Citations

• 87 Miss. 648
• 40 So. 66

Syllabus

<p>Corporations. Sale of lands. Specific performance. Equity.</p> <p>Where a corporation, indebted to, but unable to pay, one of its promoters, by resolution of its stockholders set aside to her a designated tract of land in payment of the debt, and agreed to sell the land in lots and pay over the proceeds to her, and a number of the lots were sold and the proceeds so paid, such creditor, having accepted the agreement, upon the refusal of the corporation to further carry it out, can maintain against a demurrer a bill in equity to specifically enforce the agreement, no question of the statute of frauds arising on its face.</p>