Petitioner wishes to sell his shares in respondent, a closely held corporation owned by members of his family. The stock's sale is governed by a shareholders' agreement entered into in 1948 by petitioner and his seven siblings. By that agreement, the price of the stock is to be its "book value" as shown on respondent's annual balance sheet prepared by its regular accountants. The agreement does not define book value, an imprecise term...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.