Ferrell v. Plasti-Drum Corp.

This is an appeal by plaintiff, as administrator, from a trial court’s judgment in an accounting action involving the sale of her late husband’s stock in defendant’s, Plasti-Drum Corporation’s, business. The facts are as follows:

Bert Ferrell and Walter Craig incorporated defendant Plasti-Drum Corporation in 1972. Each held 5,000 shares of common stock and both served as an officer and director.

In April 1975, Bert Ferrell suffered a ruptured appendix, after which his health declined. Bert Ferrell resigned as president of PlastiDrum and Walter Craig assumed the position. From May to December…