New York Court of Appeals
In the Matter of the Application of Walter S. Timmis, Respondent, for the Appraisal of His Stock in the Sackett &…
December 6, 1910200 N.Y. 177
Summary
The Court affirmed the order directing the corporation to pay the dissenting stockholder the appraised value of his shares. It held that the sale of the calendar department was not a transaction in the ordinary course of business and therefore required compliance with section 16, triggering the appraisal rights of a non‑consenting stockholder under section 17.