# Alford v. Shaw

> Supreme Court of North Carolina · July 28, 1987 · 320 N.C. 465

URL: https://www.frixlaw.com/law-library/cases/9565269

## Case

- **Full name:** FRANK O. ALFORD, WILKIE P. BEATTY, as Executrix of the Estate of PAUL B. BEATTY, CARSON INSURANCE AGENCY, INC., PATRICIA A. EDLUND, STANLEY EDLUND, JAMES M. GILFILLIN, LARRY G. GOLDBERG, RAQUEL T. GOLDBERG, BETTY F. RHYNE, ROBERT R. RHYNE and NORMAN v. SWENSON, Derivatively in the Right of ALL AMERICAN ASSURANCE COMPANY, Plaintiffs v. ROBERT T. SHAW, AMERICAN COMMONWEALTH FINANCIAL CORPORATION, GREAT COMMONWEALTH LIFE INSURANCE COMPANY, ICH CORPORATION, CHARLES E. BLACK, S. J. CAMPISI, ROY J. BROUSSARD, TRUMAN D. COX, FRED M. HURST, C. FRED RICE and PEGGY P. WILEY, Defendants, and ALL AMERICAN ASSURANCE COMPANY, Beneficial Party
- **Court:** Supreme Court of North Carolina
- **Decided:** July 28, 1987
- **Citations:** 320 N.C. 465; 358 S.E.2d 323; 1987 N.C. LEXIS 2299
- **Precedential status:** Published
- **Opinion:** Dissent by Meyer
- **Judges:** Martin, Meyer, Mitchell, Webb
- **Cited by:** 31 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/9565269

## How later opinions describe it (automated extraction)

- stating in dicta that the "rule has provided the yardstick against which the duties and decisions of corporate officers and directors are measured"
- applying a “modified Zapata rule” where reviewing court must determine whether the transaction complained of was just and reasonable to the corporation

## Opinion text

Justice MEYER
dissenting.
I dissent. My position is accurately reflected in the original opinion of the Court, reported at 318 N.C. 289 , 349 S.E. 2d 41 (1986).

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/9565269. Public record. Not legal advice.