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YOUNG v. YOUNG

Record No. 891083.

393 S.E.2d 398 (1990)

Lehman H. YOUNG, Sr., et al. v. Lehman H. YOUNG, Jr.

Supreme Court of Virginia.

June 8, 1990.

Attorney(s) appearing for the Case

John H. Rust, Jr. (Glenn H. Silver, Rust, Rust & Silver, Fairfax, on briefs), for appellants.

Sally Ann Hostetler (Manuel A. Capsalis, Kathleen G. Gallagher, Odin, Feldman and Pittleman, Fairfax, Talbott & Gallagher, McLean, on brief), for appellee.

Present: All the Justices.

RUSSELL, Justice.

This dispute concerns the ownership of stock in a closely held corporation. It turns on the law of inter vivos gifts.

In the 1930's, Lehman H. Young, Sr. (Young, Sr.), established a printing business in Fairfax County known as The Virginia Press. He was sole owner of the business and operated it as a sole proprietorship for about 33 years. In 1970, Young, Sr., formed a corporation, The Fairfax Printers Inc., to which he contributed...

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