Business Associations Keyed to Hamilton
Davis v. Sheerin
Facts
Sheerin (P) and Davis (D) formed a corporation. Davis (D) was employed in it and ran the regular operations. Sheering (P) received 45 percent of the shares, and Davis (D) received 55 percent. Sheerin (P) wanted to view the corporate books, but was refused unless he produced a stock certificate which Davis (D) contends Sheerin (P) gifted the 45 percent to him years before. Sheerin (P) filed suit for blocking his right to view the books and for oppressing his access to regular operations. The trial court found Davis (D) liable and ordered the buy-out of Sheerin’s (P) stock. Davis (D) appealed on the grounds that buy-out remedies were not available in Texas, and if available, was not appropriate in this circumstance.
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