Court Opinion

ID: 9545704
Source: CourtListenerOpinion
Date Created: 2023-08-07 17:17:55.08527+00
Date Added: 2024-06-11T15:15:23.512860
License: Public Domain

MR. JUSTICE ANGSTMAN:
(concurring in part 'and dissenting in part).
I concur in what is said in the foregoing opinion so far as it holds that a corporation may not, by its act, deprive a stockholder of the right of cumulative voting and so far as it holds that a stockholder may make a contract whereby he surrenders the rig-ht to cumulative voting.
I disagree with that part of the majority opinion which holds *569that such an agreement may not be expressed in the form of a by-law to which the stockholder assented. I know of no rule of law which prescribes any particular form that such a contract must take.
I concede that the by-law, in question here, is not binding •on a dissenting stockholder, but I think it binds those who assented to it since it has the effect of an agreement surrendering the right of cumulative.voting.