Court Opinion

ID: 9517902
Source: CourtListenerOpinion
Date Created: 2023-08-07 00:36:24.390898+00
Date Added: 2024-06-11T12:25:46.682850
License: Public Domain

Grant, J.
(concurring in result). I concur in the result because Venture Capital’s articles of organization do not provide that it may not repurchase shares of its own stock (see G. L. c. 156B, §9[m]) and because its board of directors should be held to have ratified Shear’s agreement to repurchase the plaintiffs shares. I am of opinion, however, that the provisions of G. L. c. 156B, § 55(i), preclude a holding that either the president or a single director of a corporation can be clothed with apparent authority to bind the corporation to a reacquisition of its stock for value.