Menick v. Bruckman

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• recognizing that courts have uniformly held valid charter and by-law provisions requiring stockholder to first offer stock to corporation and other shareholders
• recognizing that courts have uniformly held valid charter and by-law provisions requiring stockholder to first offer stock to corporation and other shareholders
• recognizing that “the validity of the restriction on transfer does not rest on any abstract notion of intrinsic fairness of price. To be invalid, more than mere disparity between option price and current value of the stock must be shown”
• construing similar provisions as requiring a shareholder to provide corporation or fellow shareholders “an opportunity to buy [his shares] before he is free to offer it to outsiders.”
• construing similar provisions as requiring a shareholder to provide corporation or fellow shareholders \an opportunity to buy [his shares] before he is free to offer it to outsiders.\
• “[T]he tendency 6 is . . . to sustain a restriction imposed on the transfer of stock if ‘reasonable’ and if the stockholder acquired such stock with requisite notice of the restriction.”

Source: CourtListener parenthetical corpus (CC0).