Oppenheim Collins & Co. v. Beir

Defendant Beir Bros., Inc., conducts a department store at Niagara Falls, New York. Defendant Ruth D. Beir, widow of one of the founders of the business, holds 1,750 shares of the capital stock of the corporation. The remaining 1,500 shares are held by defendants Landau and Mills, nieces of Mrs. Beir and daughters of the other founder brother, likewise deceased. In 1939, when the business was incorporated, a stockholders’ agreement then entered- into, and noted on the stock certificates, provided that before sale by any of the parties of any stock to an outsider such stock must first be…