Adams v. Protective Union Co.

Before 1899 the plaintiff and the other incorporators of the defendant carried on a wholesale and retail *174grocery business in Worcester as a voluntary association. In January, 1899, they organized this corporation, and voted to sell to it all the assets of the association and to accept in payment one share of stock in the corporation for each member of the association. The plaintiff was present at this meeting and at the earlier meeting of the incorporators when the by-laws were adopted.

At a special meeting of the stockholders held on April 5,1907, one of the original by-laws* was amended so…