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HIGHLIGHTS FOR CHILDREN, INC. v. CROWN

193 A.2d 205 (1963)

HIGHLIGHTS FOR CHILDREN, INC., a corporation of the State of Delaware, Plaintiff, v. Howard CROWN, Defendant.

Court of Chancery of Delaware, New Castle.

July 31, 1963.

Attorney(s) appearing for the Case

Blaine T. Phillips, of Berl, Potter & Anderson, Wilmington, for plaintiff.

E. N. Carpenter, II, and William E. Wiggin of Richards, Layton & Finger, Wilmington, for defendant.

SEITZ, Chancellor.

Plaintiff corporation seeks a determination under our Declaratory Judgment Act as to whether certain shares of its stock registered in defendant's name were validly issued. The certificates evidencing such shares are admittedly held by plaintiff at the present time as security for an obligation. Plaintiff asks that the shares of stock be cancelled of record and that plaintiff be directed to make appropriate book entries to that effect. The defendant...

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