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HAFT v. HAFT

Civil A. No. 14425.

671 A.2d 413 (1995)

Ronald S. HAFT, Plaintiff, v. Herbert H. HAFT, Defendant, v. DART GROUP CORPORATION, Nominal Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: November 14, 1995.

Attorney(s) appearing for the Case

Stuart M. Grant, and Jay W. Eisenhofer, of Blank, Rome, Comisky & McCauley, Wilmington, for Plaintiff.

Elizabeth M. McGeever, Ronald A. Brown and Thomas A. Mullen, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, of counsel: Scott W. Muller, and Michael F. Orman, of Davis Polk & Wardwell, Washington, DC, for Defendant.

Arthur G. Connolly, Jr., of Connolly, Bove, Lodge & Hutz, Wilmington, of counsel: Stephen J. Brogan, of Jones, Day, Reavis & Pogue, Washington, DC, for Nominal Defendant.

OPINION

ALLEN, Chancellor.

The questions presented are whether a proxy to vote shares of stock was validly made irrevocable when granted and, if so, whether it continues to be irrevocable.

The case arises from a July 28, 1993 transaction in which Herbert H. Haft transferred a block of the Class B common stock of Dart Group Corporation ("Dart") to his younger son Ronald S. Haft in exchange for cash, a note, and the grant of a "lifetime" irrevocable...

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