Tracey v. Franklin

Layton, Judge,

delivering the opinion of the court:

The precise question presented here is whether a voting trust agreement is contrary to public policy, and therefore invalid, because the trust certificates representing the beneficial interest of the owners of the stock deposited are, by the express terms of the agreement, made inalienable and nonassignable. Public policy is a very vague and nebulous term and the decisions under this branch of the law áre in such confusion as to have once provoked the remark that “Public policy is a very unruly horse and when once you get astride it you never…