Cambridge Street Metal Co. v. Corrao

When Michael Corrao (Corrao) died on February 13, 1985, he owned fifty percent of the outstanding capital stock (the stock) of Norwell Mfg. Co., Inc., a Massachusetts corporation (the company); the remaining fifty percent was owned by Cambridge Street Metal Company, Inc. (Cambridge). Harry Indursky (Indursky) was the president and controlling stockholder of Cambridge. On June 25, 1965, twenty years before his death, Corrao had entered into a stock purchase agreement (the agreement) with Cambridge and Indursky which bound Corrao’s legal representative, within ten days after her appointment and…