Lud v. Howard

In this consolidated appeal, defendants appeal from a November 6, 1984, order of the Ingham Circuit Court granting plaintiffs an 11.27 percent interest in the Commerce Center Building joint venture in Lansing. We reverse.

In June, 1965, plaintiffs and defendant Ross C. Howard formed a corporation called United Commerce, Inc. (uci) to construct an office building in downtown Lansing. Plaintiff Lud and Howard together owned almost ninety percent of the stock in the corporation, and the remaining plaintiffs, as minority shareholders, owned approximately eleven percent. Uci obtained a…