Nature of the Case
To access this section all you need to do is click here and register.
Facts
The by-laws of Radium Chemical Co. provided for a board of four directors, a majority of whom constituted a quorum. Prior to 1955, the board consisted of Gearing's (P) late husband, Kelly Sr., and Mrs. Lee. P remained a major stockholder yet Meacham, P's daughter, succeeded him to the board. In 1955, Kelly Jr. was elected to a vacancy. In 1961, Mrs. Lee resigned in the presence of the Kelleys who then elected Kelly Sr.'s son-in-law. Mrs. Meacham had intentionally refused to attend the board meeting to invalidate the quorum after Mrs. Lee's resignation and paralyze the board. P now petitions the court to set aside the election on the ground that it was not valid because a quorum was not present.
Holding and Decision
To access this section all you need to do is click here and register.
Legal Analysis
To access this section all you need to do is click here and register.
© 2007-2024 ABN Study Partner.
© 2024 Casebriefsco.com. All Rights Reserved.