Clemmer v. Morgan

Sloane, J.,

Plaintiffs hold a number of shares of participating preferred stock and a certain number of shares of common stock of one of the defendants, Philadelphia Transportation Company. The other defendants are voting trustees.

All parties seek a declaratory judgment, under our Uniform Declaratory Judgments Act of June 18,1923, P. L. 840, et seq., as last amended by the Act of May 26, 1943, P. L. 645, 12 PS §831 et seq., in order “to settle and to afford relief from uncertainty and insecurity with respect” to the parties’ legal relations.

We know we must be satisfied the parties have a right…