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BURT v. BURT BOILER WORKS, INC.

77-198.

360 So.2d 327 (1978)

Mack L. BURT et al. v. BURT BOILER WORKS, INC., Raymond E. Burt, et al.

Supreme Court of Alabama.

June 30, 1978.

Attorney(s) appearing for the Case

M. R. Nachman, Jr. and Griffin Sikes, Jr., of Steiner, Crum & Baker, Montgomery, for appellants.

Charles M. Crook, Montgomery, for appellees.

SHORES, Justice.

Burt Boiler Works, Inc. is a close corporation formed in Alabama in 1962. At the time of incorporation, 1700 shares of stock were issued to its three incorporators: William Raymond Burt (decedent)—850 shares; William Albert Burt (decedent's father)— 849 shares; and Consuelo Burt (decedent's mother)—1 share.

Prior to incorporation, the business had been operated by members of the Burt family as a partnership. As is frequently...

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