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Business Organizations Keyed to Macey
Davis v. Sheerin
Citation:754 S.W.2d 375 (1988)
In 1955, William Davis and appellee incorporated a business, initially started by William Davis, in which appellant Davis owned 55% and appellee owned 45% of the corporation’s stock. Appellants and appellee all served as directors and officers. The precipitating cause of appellee’s lawsuit in 1985 was appellants’ denial of appellee’s right to inspect the corporate books, unless appellee produced his stock certificate. Appellants claimed that appellee made a gift to them of his 45% interest.
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