Peoples Cleaning Dyeing Co. Inc. v. Share

Lees, C.

The appellant Share was a stockholder, director and employe of the respondent corporation. At a stockholders’ meeting in January, 1928, he failed of re-election as a director and shortly thereafter was notified that his employment would terminate at the end of the month. He owned 54 shares of stock in the corporation and wished to sell it. In 1920 all the stockholders executed a contract which provided that if any one of them wished to sell his stock, he should give the other stockholders an opportunity to purchase it before offering it to an outsider. 'Share notified the president of…