Davis v. Sheerin

754 S.W.2d 375 (1988)

From our private database of 46,100+ case briefs, written and edited by humans—never with AI.

Davis v. Sheerin

Texas Court of Appeals
754 S.W.2d 375 (1988)

  • Written by Mary Pfotenhauer, JD
Play video

Facts

Sheerin (plaintiff) and Davis (defendant) incorporated a business, in which they served as directors and officers. Davis owned 55 percent of the corporation’s stock, and Sheerin owned 45 percent. In 1985 Davis denied Sheerin the right to inspect the corporate books unless he could produce his stock certificate, claiming Sheerin had gifted his 45 percent interest in the business to Davis in the 1960s. Sheerin sued Davis, claiming oppressive conduct and a breach of fiduciary duties Davis owed to himself and the corporation. Following a trial, the trial court held that Sheerin owned a 45 percent interest in the corporation. The trial court ordered a buy-out of Sheerin’s 45 percent of stock by Davis, based on the jury’s finding of a conspiracy to deprive Sheerin of his stock and oppressive acts against Sheerin. The price for Sheerin’s shares was set at $550,000, the fair value determined by the jury. Davis appealed, arguing that Texas does not permit a buy-out as a remedy, and that the facts do not support a buy-out as a remedy in this case.

Rule of Law

Issue

Holding and Reasoning (Dunn, J.)

What to do next…

  1. 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 748,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. 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.

    Learn about our approachRead more about Quimbee

Here's why 748,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,100 briefs, keyed to 987 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.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 748,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,100 briefs - keyed to 987 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership