I apologize for not seeing your message for FOUR years! I have been tied up with the paternal side of the family.
In reference to the information you found, I also have the same thing. This was arbitrated by Stephen Easley and John Peoples to settle the matter and they found that Michael owed Vachel $195.91. Why, I don't know, but that is what it states.
According to the arbitration, it is difficult to determine if Michael and Vachel were brothers or if this Vachel was the uncle of Michael because Michael's father, John, had a brother named Vachel, and also had a son named Vachel. It would certainly appear that they were brothers since it reads, "a certain controversy that exists between Vachel Light and Michael P. Light concerning a legasy left to the said Michael Light by his Grandfather Thomas Tittsworth, dec'd which fell into the hands of the said Vachel Light."
I can think of no reason why Vachel (Sr) would have been involved in this. Vachel Sr. brother of John, married Sarah Barnard and to my knowledge, no relationship existed between Vachel Sr. and the Tittsworth family, but there could have been. There was no reason for Vachel Sr. to have been involved if their father John was still alive and he was still living in 1827, so....who knows.
Anyway, this arbitration has always been my basis for believing that this Michael Light is our Michael Light of Missouri.
In tracking Michael, I have found that young Vachel Light was living in Hawkins County, TN in 1830 near John Light, Sr. Michael was living in Sullivan Co. TN in 1830 which correlates with his residence from the 1827 arbitration. As you likely know, Sullivan, Greene, Washington, and Hawkins all meet in the Beech Creek area at Chimney Top where they lived, so Vachel Sr's family and John Sr's family were neighbors, along with the John and Elenor Light family of Greene Co. TN.
In 1840, both Michael and the younger Vachel are living in Hawkins. Michael married Sarah Amanda Dykes, daughter of William Dykes and Jane Gilmore Dykes in Hawkins Co. TN in 1836. The other two Michael's were living in Dyer and Dickson Counties in 1830. The Dickson Co. Michael Light was the brother of Vachel and John. I haven't checked into the Dyer Co. Michael yet but he was likely a son of one of the brothers.
In 1840, we also have a Vachel Light appearing in Sullivan while the Vachel and Michael mentioned before are in Hawkins. This clearly presents some confusion; however, he was not in Sullivan in 1830 so that should suggest that he was not the one mentioned in the arbitration.
As for Michael P. Light, in my opinion (and it is only an opinion based on circumstantial evidence) he was the one that moved to Hawkins from Sullivan and married Sarah Amanda, and they moved on to Crawford Co. MO by 1850 where she and the children appear and match the ages from the 1840 census of Hawkins Co. TN.
I cannot find anything that specifically ties this Michael P. Light to Michael Light of Missouri and of course, to John Light Sr. other than the mention of Michael P. Light's grandfather Thomas Tittsworth, but considering that along with the census and marriage records, not to mention the fact that a Michael Light gave land to John Light Jr. for the care of their mother "Winnie" before a Michael appears in Crawford Co. MO, makes me believe they are one and the same.
Thank you for your input on this! I forgot to write down the book and page number of this arbutration when I copied it.