Fountain v. Fountain

The opinion of the court was delivered by

Heher, J.

On June 23, 1937, plaintiff’s husband, Charles S. Fountain, and his brother, the defendant Fred M. Fountain, each held 25 shares of the capital stock of Fountain & Sons, Inc., a body corporate engaged in the real estate and insurance business in Hackensack, New Jersey. These holdings constituted the entire issue of the corporate capital stock. The brothers had given full time to the management of the corporate business, then long established and of proven earning capacity. On the day given; they entered into an agreement in writing reciting…