Krebs v. McDonald's Ex'x

MILLIKEN, Justice.

This litigation involves the validity and interpretation of a stockholders’ agreement which was intended to assure surviving stockholders in the Southern Optical Company, a closely held corporation, the right to purchase the stock of a deceased stockholder at a reasonable price for a reasonable time after his death. The appellants are surviving stockholders who seek by an action in equity to compel the sale to them of the stock of Clarence B. McDonald, who died testate in December, 1947. Dividends were paid to his widow, his executrix, until June 14, 1948, when they were…