Lamont v. Burdett Oxygen Co. of Cleveland, Inc.

The instant matter was tried upon stipulated facts in the common pleas court for the city of Detroit. The defendant appeals from an adverse ruling of that court.

On August 1, 1963, the plaintiff, as an employee of the defendant company, was offered a restricted stoek option which by its terms granted to an employee the right to purchase annually specified amounts of the company’s common stock at prices set forth in the option. The grant of the option reads as follows:

“1. Grant of option. The company grants to the employee the right and option to purchase from the company, on the terms and…