Tallant v. Executive Equities, Inc.

Jordan, Justice.

This is an appeal from the granting of a motion for summary judgment in Fulton Superior Court.

In 1969 Fred C. Tallant Sr., appellant, conceived and promoted a business, which was incorporated as Executive Equities, Inc., for the purpose of owning and operating cemeteries and related enterprises. The articles of incorporation provide for Class A and Class B stock. Class A stock elects two directors while Class B stock elects three directors.

Initially, of the 2,000,000 Class B shares authorized, 100,000 were issued. Sixty thousand Class B shares were sold to appellant, while…