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IN RE ESTATE OF ARMOUR

11 N.J. 257 (1953)

94 A.2d 286

IN THE MATTER OF THE ESTATE OF BERNARD R. ARMOUR, DECEASED. THE PRESIDENT AND DIRECTORS OF THE MANHATTAN COMPANY, GEORGE L. ARMOUR AND GEORGE F. LEWIS, AS EXECUTORS OF THE ESTATE OF BERNARD R. ARMOUR, DECEASED, AND GEORGE L. ARMOUR, INDIVIDUALLY, PLAINTIFFS-RESPONDENTS, v. MARTHA S. ARMOUR, AS GENERAL GUARDIAN FOR RUTH, RACHEL AND TOBY ARMOUR, DEFENDANT-APPELLANT, AND CARL E. SCHUSTAK AND OSCAR R. WILENSKY, FORMERLY APPEARING HEREIN AS GUARDIANS AD LITEM FOR RUTH, RACHEL AND TOBY ARMOUR, DEFENDANTS.

The Supreme Court of New Jersey.

Decided January 19, 1953.

Attorney(s) appearing for the Case

Mr. Anthony T. Augelli argued the cause for appellant (Mr. John Milton, of counsel; Messrs. Milton, McNulty & Augelli, attorneys).

Mr. Marshall Crowley argued the cause for respondent George L. Armour, individually (Mr. John A. Ackerman, of counsel; Messrs. Toner, Crowley & Ackerman, attorneys).

Messrs. James D. Carpenter and Elmer J. Bennett submitted a brief on behalf of the respondent executors of the estate of Bernard R. Armour, deceased (Messrs. Carpenter, Gilmour & Dwyer, attorneys).

The opinion of the court was delivered by HEHER, J.

We have here a testamentary interpretative problem involving Article 12 of the will of the deceased Bernard R. Armour, in terms following:

"I hereby give my brother, George L. Armour, the privilege and right at any time within one (1) year from the date of my death to purchase all the shares of stock of American Aniline Products, Inc. which I may own at the time of my death, at a purchase price equal to the...

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