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Business Organizations Keyed to Macey
Galler v. Galler
Citation:203 N.E.2d 577 (1964)
From 1919 to 1924, Benjamin and Isadore Galler, brothers, were equal partners in the Galler Drug Company. On July 21, 1956, Benjamin executed an instrument creating a trust naming his wife as trustee. The trust covered the 104 shares of Galler Drug Company stock and the stock certificates of Galler Drug Company stock. Shortly after Benjamin’s death, Emma went to the office and demanded that the terms of the agreement be carried out. In July 1955, agreement in question here, entered into between Benjamin, Emma, Isadore and Rose, recites that Benjamin and Isadore each own 47 1/2% o the shares of the Galler Drug Company. The Appellate Court found the agreement void.
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