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ESSENTIAL ENTERPRISES CORP. v. DORSEY CORPORATION

182 A.2d 647 (1962)

ESSENTIAL ENTERPRISES CORPORATION, a corporation of the State of Delaware, Plaintiff, v. The DORSEY CORPORATION, a corporation of the State of Delaware, Frank B. Johnston, John R. Maher, Henry G. Hotchkiss, G. Clayton Irwin, Glen G. Dicker and John E. Massengale, Defendants.

Court of Chancery of Delaware, New Castle.

June 1, 1962.

Attorney(s) appearing for the Case

Louis J. Finger, of Richards, Layton & Finger, Wilmington, for plaintiff.

Richard F. Corroon, of Berl, Potter & Anderson, Wilmington, for defendants.

SEITZ, Chancellor.

By this action, plaintiff, Essential Enterprises Corporation, sought a declaratory judgment that a certain portion of an assumption of liability agreement ("transfer agreement") was invalid and not binding on it. Next, it sought a judgment against the corporate defendant for liabilities illegally transferred to plaintiff and a determination that defendant corporation, Dorsey Corporation ("Dorsey") be required to hold plaintiff harmless as to any...

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