Swain v. Kayko

44 Mich. App. 496 (1973)

205 N.W.2d 621

SWAIN

v.

KAYKO.

Docket No. 8430.

Michigan Court of Appeals.

Decided February 20, 1973.

Calvin Klyman, for plaintiff.

James E. Wells, for defendants.

Before: J.H. GILLIS, P.J., and LEVIN and McGREGOR, JJ.

McGREGOR, J.

Plaintiff, the sole stockholder and originator of Swain Industries, Inc., wished to relinquish control of the business to William F. Kayko, the plant manager. James E. Wells, attorney and codefendant, drafted the documents effectuating the transfer and is counsel for the defendants.

Two documents were drawn on July 30, 1968. The first, an "Agreement of…