Southam v. South Despain Ditch Co.

Justice LEE,

opinion of the Court:

{ 1 This lawsuit was filed by a predecessor of Paul Southam against South Despain Ditch Company. Southam acquired shares in South Despain in contravention of corporate restrictions on transferability of South Despain shares. When the company sought to enforce those restrictions against Sout-ham, he challenged their enforceability and asserted that their enforcement put South Despain in breach of its obligations in contract, fiduciary duty, and the Utah Nonprofit Corporation Act.

12 The district court granted summary judgment for South Despain. We affirm.…