Keeneland Ass'n v. Pessin

GARDNER, Commissioner.

By summary judgment Keeneland Association was directed to register in Arnold G. Pessin’s name twenty-five shares of capital stock of Keeneland Association. Keeneland appeals. We affirm.

Dr. Pessin purchased twenty-five shares of Keeneland stock from one W. T. Mar-key for five dollars ($5.00). The new ownership was properly authenticated but Keeneland refused to transfer the stock on the corporation books on the ground that Dr. Pessin’s purpose in acquiring the stock was to wreck the corporation and to use his position as a stockholder to aid him as a competitor.

We shall…