(DOWNLOAD) "John P. Gannon v. John H. Baker III" by Supreme Court of Texas No. D-1132 " Book PDF Kindle ePub Free

eBook details
- Title: John P. Gannon v. John H. Baker III
- Author : Supreme Court of Texas No. D-1132
- Release Date : January 06, 1991
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 57 KB
Description
The issue in this case is whether minutes of a corporate meeting constitute a written agreement of persons present precluding parol evidence concerning the agreement. We hold, in the circumstances presented, that they do not. John P. Gannon and Bill Nail were each fifty-percent owners of J & B Sign Co., an outdoor sign business. In 1976, Gannon and Nail agreed to bring in John H. Baker, III, as a co-owner. At an organizational meeting, the parties agreed that Baker would hold sixty percent of the corporation's stock, while Gannon and Nail would each hold twenty percent. Additionally, the parties signed a trust agreement entitling Baker to vote the other owners' shares for so long as the corporation remained liable on any obligation requiring the personal guaranty of any of the shareholders.
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