[DOWNLOAD] "Smith V. Galio" by New Mexico Court of Appeals * eBook PDF Kindle ePub Free

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eBook details

• Title: Smith V. Galio
• Author : New Mexico Court of Appeals
• Release Date : January 23, 1980
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 51 KB

Description

The defendants appeal a judgment which, in effect, grants Smith specific performance on an oral contract providing that Galio, owner of half of the shares of Albuquerque Automotive Lane and Repair Center, Inc., (hereafter Automotive) would buy out Smith the other shareholder, if Smith would allow Galio to manage the corporation. No claim is made that the judgment entered against both defendants is improper or that the court should not have ordered Smith's stock certificate declared null and void upon defendants' payment of the judgment. The defendants raise no Statute of Frauds defense. Smith cross-appeals, claiming that he is entitled to damages under § 53-11-50 (B), N.M.S.A. 1978 for Galio's failure on two occasions to allow him to inspect the corporate books on written demand, that Galio converted corporate assets to his own use, for which activities, punitive damages should be awarded against him, and that Smith is entitled to half of the corporate assets under a constructive trust theory. Smith also claims that the trial court erred in its finding as to the sales price of his stock.

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