Poss v. Rossen-Poss Agency, Inc.

Defendant appeals from an order of Wayne county circuit court appointing appraisers pursuant to CL 1948, § 450.44 (Stat Ann 1963 Rev § 21.44) and from denial of defendant’s motion to vacate said order and for rehearing. The statute involved governs rights of corporate shareholders objecting to corporate authorization of sale, lease, or exchange of all or substantially all of the corporate assets and provides a method for them to obtain the value of their shares in case they and the corporation fail to agree on such value.

To be entitled to the statutory relief, plaintiff must show full and…