California Court of Appeal
104 Cal. Rptr. 663 (1972)
Myron Newberger and four others (plaintiffs) were employees of Avnet, Inc. Avnet family members were Avnet, Inc.’s primary shareholders. In 1962, Lester and Robert Avnet granted the plaintiffs stock options from the Avnets’ personal shares. The stock options were written out, signed, and given to the plaintiffs. The stock options set forth a schedule under which the plaintiffs could exercise their options for all the promised shares after five years. Robert Avnet died two years after granting the stock options. Three years later, the plaintiffs, still Avnet, Inc. employees, attempted to exercise their options. When the executors of Robert Avnet’s estate did not award the stock options to the plaintiffs, the plaintiffs filed suit against Robert Rifkind, the other executors, and Robert Avnet’s widow (defendants). The trial court ruled in favor of the defendants. The plaintiffs appealed.
Rule of Law
Holding and Reasoning (Kingsley, 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 222,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 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.