TANSEY v. OIL PRODUCING ROYALTIES


133 A.2d 141 (1957)

Mary Keane TANSEY, Plaintiff, v. OIL PRODUCING ROYALTIES, Inc., a corporation of the State of Delaware, and William J. Kenealy, Defendants.

Court of Chancery of Delaware, New Castle.

May 13, 1957.


Attorney(s) appearing for the Case

Henry M. Canby of Richards, Layton & Finger, Wilmington, and Donald H. McLean, Elizabeth, N. J., for plaintiff.

Richard F. Corroon and Henry R. Horsey of Berl, Potter & Anderson, Wilmington, and Martin B. O'Connor, Elizabeth, N. J., for defendants.


SEITZ, Chancellor.

Plaintiff, a minority stockholder, brought this action against Oil Producing Royalties, Inc., a Delaware corporation, ("company") and William J. Kenealy ("defendant"), its chief executive and principal stockholder.

Plaintiff's first claim was that the company refused without cause to transfer to her name certain stock given her by her mother. No defense was interposed to this first cause of action, and the Court ruled from the bench that...

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