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Essex Universal Corp. v. Yates
Citation:305 F.2d 572 (1962)
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Yates, the owner of 28.3% of the shares of Republic Pictures Corporation, contracted to sell those shares to Essex Universal Corp. and to ensure that Essex’s nominees were placed in control of the Republic board as a part of the closing of the closing of the transaction. Yates sought to avoid this contract on the grounds that his own agreement to effectuate an immediate transfer in control of the Republic board violated public policy.
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