President of the Manhattan Co. v. Armour

The opinion of the court was delivered by

Heher, J.

We have here a testamentary interpretative problem involving Article 12 of the will of the deceased Bernard R. Armour, in terms following:

“I hereby give my brother, George D. Armour, the privilege and right at any time within one (1) year from the date of my death to purchase all the shares of stock of American Aniline Products, Inc. which I may own at the time of my death, at a purchase price equal to the book value of said shares of stock, such book value to be determined by an inventory taken and a balance sheet struck at the end of the…