Charland v. Country View Golf Club, Inc.
Supreme Court of Rhode Island
588 A.2d 609
Gilbert Charland (plaintiff) is a 15 percent shareholder in Country View Golf Club, Inc. (Country View) (defendant), a Rhode Island close corporation. Charland sued Country View, seeking a court-ordered dissolution of the corporation on the basis that an officer was engaging in illegal activities. As permitted under Rhode Island law, Country View elected to purchase Charland’s shares for fair value as an alternative to dissolution. Because the parties could not agree on the fair price for the stock, the trial court appointed an appraiser. The trial court accepted an appraised value of $139,095. The valuation appeared to include elements of both a marketability discount and a minority discount, though the appraiser’s report was unclear on this issue. Charland appealed, arguing that he did not receive fair value for his shares.
Rule of Law
Holding and Reasoning (Kelleher, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 153,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,500 briefs, keyed to 183 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.