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- Title
STOCKHOLDER WAIVED PROVISION OF WRITTEN SETTLEMENT AGREEMENT THAT APPRAISAL OF HIS INTEREST FOR CORPORATION'S OPTION SHOULD BE COMPLETED WITHIN 30 DAYS BY NOT COMPLAINING OF DELAY BEFORE RETURN OF APPRAISAL.
- Abstract
This article focuses on the court ruling given in Smith v. Southern Land Development Co. case. Stockholder waived provision of written settlement agreement that appraisal of his interest for corporation's option should be completed within 30 days by not complaining of delay before return of appraisal. The agreement in question provided for the 30-day limit, "unless the time therefore is extended in the discretion of the court." The reviewing court was required to presume that the trial court in its discretion extended the time for completing the appraisal since it accepted the appraisal five months after the written settlement.
- Subjects
LEGAL judgments; ACTIONS &; defenses (Law); ARBITRATION &; award; OPTIONS (Finance); STOCKHOLDERS; CIVIL procedure
- Publication
Arbitration Journal, 1965, Vol 20, Issue 2, p125
- ISSN
0003-7893
- Publication type
Article