O-So-White Products Co. v. Richards Manfg. Co.

If the contract before us were one between Charles Donovan and defendant, the opinion of my Brother Bird would be unassailable. Donovan as owner of stock, in an isolated transaction, could sell or contract to sell his own stock. Act No. 220, Pub. Acts 1923, § 5 (c); Edward v. Ioor, 205 Mich. 617 (15 A.L.R. 256); Dows v. Schuh, 206 Mich. 133; Dursum v. Benedict, 209 Mich. 115. But such is not the contract before us. By the contract before us, and the one for which specific performance is sought, the plaintiff corporation agreed to transfer 1,200 shares of its stock to defendant corporation in…