Question
Mt. Princeton Trout Club, Inc. (MPTC), was formed to own land in Colorado and provide fishing and other recreational benefits to its shareholders. The articles
Mt. Princeton Trout Club, Inc. (MPTC), was formed to own land in Colorado and provide fishing and other recreational benefits to its shareholders. The articles of incorporation prohibited MPTC from selling or leasing any of the property and assets of the corporation without the approval of a majority of the directors. Despite this provision, MPTC officers entered into leases and contracts to sell corporate property without even notifying the directors. A shareholder, Sam Colt, petitioned the courtfor dissolution. Should the court dissolve this corporation ? Explain
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