Jenkins v. Young

RODGERS, Presiding Justice.

This was an appeal from a decision by the Chancellor, Division One, Hinds County, Mississippi, dated October 17, 1973. The decision established the fair market value as of June 9, 1972, of one thousand two hundred and fifty (1,250) shares of stock in the Jackson Coca-Cola Bottling Company, a closely held corporation. This stock, for which the value had to be established, was part of the corpus of a testamentary trust left by Phillip Lee Borden.

Phillip Lee Borden set forth in his last will and testament very explicit instructions as to the distribution of the corpus…