Mart v. Severson

Opinion

HAERLE, J.—

I. Introduction

Bradley C. Mart (Mart) and Leland Severson (Severson) are the sole shareholders of Bay World Trading Ltd. (Bay World). Mart appeals from a decree which provides that Bay World will be dissolved unless Bay World and/or Severson elects to buy out Mart’s shares in the corporation. Mart argues that the superior court’s determination of the “fair value” of his Bay World shares was erroneous as a matter of law. We agree and, therefore, reverse the trial court’s order.

II. Corporations Code Section 2000

This appeal is from a special proceeding conducted pursuant to…