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MORENTE v MORENTE Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 16,763, Plaintiff: MORENTE, State: DE Delaware, UniqueCaseRef: DE>CC>00016763, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Jacob, Stock, Transaction, Del, Facts, Participation, Summary Judgment, Equitable Relief, Validity, Delaware, Edward, Certificate, Issuance, Morente, Jacob Morente, Matter, Voluntary Participation, Shares, Legally Valid, Raising Defenses, Brandywine Flowers, Fenimore, Judgement, Bfi, Shareholder, Doctrine, Authorities, Acquiescence, Bar, Fraudulent, Estoppel, Sham, Purpose, Delivery, Unclean Hands, Complain, Esquire, Lexis, Record Owner, Bars, Obtaining Equitable Relief, Party, Chancellor , ContentID: 120239756

Case Documents
1 2000-02-29 LETTER OPINION
[ see first page and extracted highlights below  ] ItemID: 100331
9 pages
PDF
2 1999-12-22 DEFENDANT JACOB MORENTES REPLY BRIEF IN SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT
[ see first page and extracted highlights below  ] ItemID: 103047
15 pages
PDF
3 1999-10-29 DEF. JACOB MORENTES OPENING BRIEF IN SUPPORT OF MOTION FOR PARTIAL SUMMARY JUDGMENT
[ see first page and extracted highlights below  ] ItemID: 103048
20 pages
PDF
Total Documents: 3 documents , 44 pages
Price: $ 29.95


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1 . LETTER OPINION

EXTRACTED KEY WORDS
JACOB
MORENTE
COURT
TRANSACTION
STOCK
SHARES
BRANDYWINE FLOWERS
DEL
DOCTRINE
CERTIFICATE
SHAM
PURPOSE
UNCLEAN HANDS
ESQUIRE
PLAINTIFFS
PARTY
ALLEGED PROMISE
PARTICIPANT
FRAUDULENT
CHANCERY
ACQUIESCENCE
ENFORCE
FINCH
BAR
COMPLAINING
DELAWARE
ACT
FRAUD
FLEXIBILITY
                                       C OURT OF  C H A N C E R Y
                                                 OF THE
                                       S TATE OF  D E L A W A R E


L EO E.  STRINE , J R.                                                       C O U R T  H O U S E
                                                                     WILMINGTON , DELAWARE I  9801
   VICECHANCELLOR


                                            February 29,200O


    H. Alfred Tarrant, Jr., Esquire
    Gregory J. Weinig, Esquire
    Thomas D. Shellenberger, Esquire
    Coach and Taylor
    824 Market Street, Suite 100
    P.O. Box 1680
    Wilmington, DE 19899

    David J. Ferry, Jr., Esquire
    Rick S. Miller, Esquire
    Ferry & Joseph
    824 Market Street, Suite 904
    P.O. Box 1351
    Wilmington, DE 19899

              RE: Edward S. Morente. III v. June F. Morente and Jacob Morente,
                          C.A. No. 16763

    Dear Counsel:

              This opinion addresses the attempt by the plaintiff, Edward M.

    Morente, III ("Edward"), to obtain a judicial determination that he engaged

    in a "sham" transaction on September 20, 1990.' In that transaction, Edward

    executed and delivered a stock certificate to his son, defendant Jacob

    Morente ("Jacob"), certifying that Jacob was the owner of fifty shares of



Morente v. Morente, CA. No. 16763
February 29,200O
Page 2

SNIPPETS:
  • H. Alfred Tarrant, Jr., Esquire Gregory J. Weinig, Esquire Thomas D. Shellenberger, Esquire
  • June F. Morente and Jacob Morente,
  • This opinion addresses the attempt by the plaintiff, Edward M.
  • In that transaction, Edward
  • Brandywine Flowers, Inc. Edward claims to have been the president,
  • delivered the stock certificate to Jacob.
  • over eight years after Edward transferred fifty shares to
  • Jacob, Edward filed suit in this court seeking, among other things, a
  • purpose had been served, Jacob, according to Edward, promised to give back
  • The only shares any party
  • 1990 in the allegedly sham transaction.
  • Under the equitable doctrines of acquiescence and unclean hands,
  • fraudulent transaction once that transaction had accomplished its illicit
  • T&a v. Jarvis, Del.
  • secure formal approval by the board of directors.8 The Finch line of cases
  • But then Vice Chancellor, now Justice, Berger dealt with precisely that argument in the
  • the rationale for this line of cases does not depend on a showing of detrimental reliance; it
  • 6r Michael A. Pittenger, Corporate and Cornrncrcial Practice in the Delaware Court of
  • transfer at a later time so long as the participant claims that the transferor
  • and the transferee effected the transfer as a purposeful fraud on third parties.
  • applied doctrine for self-confessed frauds is not discernible.
  • Edward seeks to have this court enforce Jacob's alleged promise
  • avoid becoming complicit in a plaintiffs fraudulent act."
  • appropriately used here to bar Edward from seeking to enforce Jacob's
  • Supr., 59 A.2d 463,470, I do not read that case law as denying me the flexibility to apply
  • The Chancery Court later granted Horace's request to impose an equitable trust for his

  • 2 . DEFENDANT JACOB MORENTES REPLY BRIEF IN SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT

    EXTRACTED KEY WORDS
    COURT
    STOCK
    JACOB
    DEL
    CERTIFICATE
    DEFENDANT
    JUDGEMENT
    PARTICIPATION
    TRANSACTION
    ESTOPPEL
    LAW
    DELIVERY
    FACTS
    COMPLAIN
    SUMMARY JUDGMENT
    LEXIS
    CHANCELLOR
    DELAWARE
    BAR
    FENIMORE
    SUPR
    MESSICK
    TESTA
    OPENING
    DETRIMENTAL RELIANCE
    SHAREHOLDER
    OWNER
    ISSUANCE
    SHARES
    
                                                                ORIGINAL
               IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
    
                          IN AND FOR NEW CASTLE COUNTY
    
    EDWARD S. MORENTE, III,               ))
         Plaintiff,                       ))
         v.                               )         C.A. No.      16763-NC
                                          )                                   7~
                                                                       r;i~;  'I
    JUNE F. MORENTE and                                                '~
    JACOB MORENTE,                        ;                                          ~;     ,,
                                                                       :.           1,
                                          )                            ;
         Defendants.                      )                            I~,           3
    
    
    
    
    
    
                   DEFENDANT JACOB MORENTE'S REPLY BRIEF IN
               SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT
    
    
    
    
    
                                          DAVID J. FERRY, JR.
                                          RICK S. MILLER
                                          FERRY & JOSEPH, P.A.
                                          824 Market Street, Suite 904
                                          P.O. Box 1351
                                          Wilmington, DE 19899
                                                (302) 575-1555
                                          Attorneys for Defendant Jacob
                                          Morente
    Dated: December 22, 1999
    
    
    
                             TABLE OF CONTENTS
    
                                                                    Page
    
    Table of Authorities . . . . . . . . . . . . . . . ii
    
    Argument . . . . . . . . . . . . . . . . . . . . . . . . . ..l
    
    
    SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • DEFENDANT JACOB MORENTE'S REPLY BRIEF IN SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT
  • THE STOCK ISSUE WAS LEGALLY VALID AND PLAINTIFF IS ESTOPPED FROM RAISING DEFENSES TO ITS
  • PLAINTIFF'S VOLUNTARY PARTICIPATION IN THE TRANSACTION AT ISSUE ALSO BARS HIM FROM OBTAINING
  • Brown v. Fenimore, Del.
  • Ch., 1977 Lexis 189, Marvel, C..
  • Danvir Corp. v. Wahl, Del.
  • Supr., 281 A.2d 487.
  • JACOB IS ENTITLED TO SUMMARY JUDGMENT BECAUSE UNDER THE FACTS ALLEGED BY THE PLAINTIFF, JACOB
  • THE STOCK ISSUE WAS LEGALLY VALID AND PLAINTIFF IS ESTOPPED FROM RAISING DEFENSES TO ITS
  • of a stock certificate is not enough to establish ownership.
  • physical delivery of the stock certificate to Jacob,
  • Plaintiff cites the cases of Testa v. Jarvis,
  • possession of a stock certificate to prove he is a shareholder.
  • plaintiff claimed to be an owner of the corporation without
  • 'Attached to Jacob's Opening Brief as Exhibit "A."
  • THE STOCK ISSUANCE ESTOPS HIM FROM
  • Jacob can not assert an estoppel because he can no-:
  • shareholder could not complain that shares had been issued to
  • Unlike Chancellor Allen,
  • Like the plaintiff in the case at bar,
  • While it is true, as plaintiffs argue, that tllere is no evidence of detrimental reliance by
  • ruling in Messick v. Moore,

  • 3 . DEF. JACOB MORENTES OPENING BRIEF IN SUPPORT OF MOTION FOR PARTIAL SUMMARY JUDGMENT

    EXTRACTED KEY WORDS
    PLAINTIFF
    STOCK
    TRANSACTION
    FACTS
    DEL
    COURT
    PARTICIPATION
    SUMMARY JUDGMENT
    EQUITABLE RELIEF
    DEFENDANT
    VALIDITY
    DELAWARE
    JACOB MORENTE
    MATTER
    ISSUANCE
    VOLUNTARY PARTICIPATION
    LEGALLY VALID
    RAISING DEFENSES
    BFI
    CERTIFICATE
    AUTHORITIES
    SHAREHOLDER
    RECORD OWNER
    BARS
    OBTAINING EQUITABLE RELIEF
    FENIMORE
    ACQUIESCENCE
    UNDISPUTED FACTS
    FRAUDULENT
    
                                                              ORIGINAL
    
               IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
    
                          IN AND FOR NEW CASTLE COUNTY
    
    EDWARD S. MORENTE, III,               ))
         Plaintiff,                       ))
         V.                               )     C.A. No.    16763-NC
                                          )
    JUNE F. MORENTE and                   )
    JACOB MORENTE,
    
         Defendants
    
    
    
    
    
    
                  DEFENDANT JACOB MORENTE'S OPENING BRIEF IN
               SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT
    
    
    
    
    
                                          DAVID J. FERRY, JR.
                                          RICK S. MILLER
                                          FERRY & JOSEPH, P.A.
                                          824 Market Street, Suite 904
                                          P.O. Box 1351
                                          Wilmington, DE 19899
                                          (302) 575-1555
                                          Attorneys for Defendant Jacob
                                          Morente
    Dated: October 29, 1999
    
    
    
                              TABLE OF CONTENTS
    
                                                                   Pase
    
    Table of Authorities . . . . . . .  .               .            ii
    
    Nature and Stage of Proceedings . .  .                   .
    
    Statement of Facts . . . . . . . .  .          .                .3
    
    SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • DEFENDANT JACOB MORENTE'S OPENING BRIEF IN SUPPORT OF HIS MOTION FOR PARTIAL SUMMARY JUDGMENT
  • Statement of Facts
  • THE STOCK ISSUE WAS LEGALLY VALID AND PLAINTIFF IS ESTOPPED FROM RAISING DEFENSES TO ITS
  • PLAINTIFF'S VOLUNTARY PARTICIPATION IN THE TRANSACTION AT ISSUE ALSO BARS HIM FROM OBTAINING
  • TABLE OF AUTHORITIES
  • Derickson v. Derickson, Del.
  • plaintiff seeks a declaration that he is the sole shareholder of
  • Jacob Morente.
  • BFI is a Delaware corporation which operates a retail flower
  • On September 20, 1990, Jacob received a stock certificate
  • The plaintiff alleges that the issuance of stock to Jacob
  • JACOB IS ENTITLED TO SUMMARY JUDGMENT BECAUSE UNDER THE FACTS ALLEGED BY THE PLAINTIFF, JACOB
  • the plaintiff's participation and acquiescence
  • transaction which he has labeled as fraudulent prevents him from
  • THE STOCK ISSUE WAS LEGALLY VALID AND PLAINTIFF IS ESTOPPED FROM RAISING DEFENSES TO ITS
  • The undisputed facts of this case show that the stock certificate
  • consideration); Brown v. Fenimore,
  • PLAINTIFF'S VOLUNTARY PARTICIPATION IN THE TRANSACTION AT ISSUE ALSO BARS HIM FROM OBTAINING
  • Jacob the record owner of fifty shares of BFI stock.
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