Pan American Trade & Investment Corp. v. Commercial Metals Co.

Marvel, Vice Chancellor:

Plaintiffs seek an accounting for their claimed share of profits derived by defendant from what plaintiffs *437contend was a joint venture mutually agreed on and voluntarily entered into by the parties. Pan American Trade and Investment Corporation is a wholly owned subsidiary of American Rail and Steel Co.; Milton E. Cantor is the president and majority stockholder of American Rail and Steel Co., and plaintiffs engage in the business of buying and selling used rail and other metals of a scrap nature. Canter controls the plaintiff corporations and personally carried on the…