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Corporations-Validity Of Stockholders' Voting Control Agreement, Bernard Goldstone

Michigan Law Review

A,B, and C, petitioners, and X and Y, respondents, owned all the stock in a corporation. On September 20, I 946, they entered into a ten year agreement which provided that A, B, X and Y should constitute the board of directors of the corporation as long as they remained stockholders. It was also agreed that A, B, C, X and Y were to be the officers of the corporation. At a meeting on January 21, 1948, attended by X and Y, three directors were elected, not including A and B. One week later these …