Estate of Sinclair v. Keith-Sinclair Co.

OPINION

CANTRELL, Judge.

The primary question in this appeal is whether a contract between a corporation’s sole shareholders requiring the shares of the first to die to be put in a voting trust is a testamentary disposition requiring compliance with the Wills Act. Alternatively, the executrix argues that enforcing the trust violates the Tennessee Voting Trust Statute. The Chancery Court of Davidson County enforced the contract. We affirm.

I

In 1979, brothers Bruce and Jere Sinclair, the sole stockholders of the Keith Sinclair Company, agreed that if either wished to dispose of his shares during…