Question
Smith Corporation, an independent family-owned farming company, had a provision in its articles of incorporation that provided the corporation could take action to dissolve only
Smith Corporation, an independent family-owned farming company, had a provision in its articles of incorporation that provided the corporation could take action to dissolve only with the approval of 75 percent or more of the outstanding shares of the corporation. Abigail Smith owned 33.3% of the company. After a dispute with her sibling, Brock and Connie, she decided to seek sought a judicial dissolution of the corporation on the grounds of shareholder dissension and oppression by her siblings, the majority shareholders. How do you believe the court would rule on this? Why or why not?
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