Dorothy Taylor Jones v. J. Baker Taylor Book Reviews

Dorothy Taylor Jones v. J. Baker Taylor by New Castle Court of Chancery of Delaware Book Summary

BROWN, Vice Chancellor. Defendants have moved for summary judgment in this action brought derivatively by the plaintiff, Dorothy Taylor Jones, for
the benefit of Taylor Auto Supply, Inc. ("Taylor Auto"). In essence, the complaint alleges that in 1972 the individual defendants,
J. Baker Taylor, Jr. and F. Martin Taylor, the brother and cousin of the plaintiff, caused Taylor Auto to convey certain of
its assets to the defendant Marbak, Inc. for a grossly inadequate consideration. Marbak is owned and controlled by the individual
defendants, who are also the sole officers and directors of Taylor Auto. The complaint further alleges that in this latter
capacity the individual defendants have caused Taylor Auto to pay them salaries and other compensation far in excess of the
value of their services to the corporation.

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Dorothy Taylor Jones v. J. Baker Taylor (New Castle Court of Chancery of Delaware) Book Reviews 2024

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