For Your Data Gearing V. Kelly Illustration Brief
April 06, 2016
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Gearing v. Kelly case brief summary
182 N.E.2d 391 (1962)
CASE FACTS
Appellants who owned one-half of the stock of a companionship sought, inside the provisions of N.Y. Gen. Corp. Law § 25, to gear upward aside the election of a corporate director.
DISCUSSION
CONCLUSION
Petition denied because appellants failed to demo that jurist required a novel election of a corporate managing director where appellants had agreed to alter inwards their corporate control.
Recommended Supplements for Corporations in addition to Business Associations Law
182 N.E.2d 391 (1962)
CASE SYNOPSIS
Appellants challenged lodge of the Appellate Division of the Supreme Court inwards the First Judicial Department (New York), that reversed judgment for appellants inwards petition to gear upward aside the election of a corporate director.CASE FACTS
Appellants who owned one-half of the stock of a companionship sought, inside the provisions of N.Y. Gen. Corp. Law § 25, to gear upward aside the election of a corporate director.
DISCUSSION
- The courtroom noted that appellants sought to protect their equal ownership of stock through equal representation on the board.
- However, such residue had been voluntarily surrendered yesteryear appellants.
- The courtroom affirmed the decision, asset that appellants failed to demo that jurist required a novel election, because they could non complain of an irregularity which they themselves caused.
CONCLUSION
Petition denied because appellants failed to demo that jurist required a novel election of a corporate managing director where appellants had agreed to alter inwards their corporate control.
Recommended Supplements for Corporations in addition to Business Associations Law