can you write a summary of case study 40.3?

Case Analysis 40.3 Case v. Sink & Rise, Inc. Supreme Court of Wyoming, 2013 WY 19, 297 P.3d 762 (2013). In the Language of the Court authority and thus they were not set entirety, cach owns HILL, Justice aside after trial. This appeal followed. an undivided 100% This case involves a dispute over cor- interest in the 16 porate action during a shareholder meet- ***Shirley Case argues that because shares. ing of Appelle Sink & Rise, Inc., (Sink her estranged husband was not entitled In an estate of the entirety, the husband & Rise) a Wyoming corporation. Appel- to vote the jointly held shares, those and the wife during their joint lives each lee James Caleb Case (Cale Case) was the same shares could not be counted for owns, nor a part, or a separate or a sepa- only shareholder present at the meeting. quorum purposes. She reasons that rable interest, but the whole. [Emphasis He concluded that a quorum existed and because she was absent from the meet- added.] thus voted on and passed several resolu- ing and because only shares "entitled to To further help us in our con- tions. Cale Case also elected himself vote" are to be counted in establishing sideration, we turn to the corporate . and another shareholder as the directors a quorum, the shares in question were documents. of the corporation, and replaced his essentially useless at the meeting, *** Sink & Rise's bylaws *** define estranged wife, Appellant Shirley Case, ... We find the answer in the Sink what constitutes a "quorum," and relate as the corporation's secretary & Rise corporate documents, and within the corporation's rule on voting shares: Shirley Casc took issue with her Wyoming law. First, we reiterate the 6. Quorum. A majority of the our estranged husband's actions during the (district court's characterization of the Standing shares entitled to vote, rep shareholder meeting and filed a com stock as being owned by husband and resented in person or by proxy, shall plaint in la Wyoming state) district court wife with rights ofpurvivorship. We constitute a quorum at a meeting of to set aside the corporate action that agree with the district court's further Shareholders. If a quorum is present occurred at the shareholder meeting. classification of the stock as creating a the affirmative vore of the majority of . The district court concluded that presumption of Tenancy by the entirety shares entitled to vote at the meeting the resolutions were passed with requisite under Wyoming law. As tenants by the shall be the act of the Shareholders, ... Case 40.3 Continues Case 40.3 Continued 7. Voting of Shares. ***Each out- standing share is entitled to yote the number of shares owned by him/her on each matter submitted to a vote at a meeting of Shareholders According to the bylaws, for the cor- poration to corent shares in determining a quoruon, the shares must be (1) entitled to vote, and (2) represented in person or by proxy. From our reading of the corporate documents, and because the joint stock was held by husband and wife as ten ants by the entirety, we conclude that the shares held jointly by Cale Case and Shirley Case were "entitled to vote" at the meeting. Cale Case represented the stock in person, as required by the bylaws. (Emphasis added.] As the district court noted, and the parties agree here, the joint stock in question cannot be, and was not, voted without agreement between Cale Case and Shirley Case. * * * (But) the fact that Cale Case and Shirley Case must agree on how to vote the stock before it can actually be voted does not strip it of its voting privileges, Cale Case did not attempt to vote the stock at the meeting, but instead considered it only for quo- rum purposes. Sink & Rise's bylaws do not prevent stock owned by a husband and wife as tenants by the entirety *** from being counted for purposes of a quorum if represented in person. The stock in ques- tion was represented in person by Cale Case at the shareholder meeting, and it was properly counted to establish a quorum We affirm the district court's decision