CONCORD AUTO AUCTION, INC. V. RUSTIN
627 F.Supp. 1526 (D. Mass 1986)
NATURE OF THE CASE: This case, like many of the cases in this chapter, focuses on the
interpretation of contracts. It is an action for specific performance of a stock purchase
agreement. Concord (P) filed an action for the specific performance of a stock purchase and
restriction agreement against Rustin (D) in that D failed to effect the repurchase of the
deceased's stock holdings as provided by the agreement.
FACTS: Three brothers entered into a stock purchase and restriction agreement to protect
'their best interests'. They each owned one third of Concord Auto Auction, Inc. (P) and E.L.
Cox Associations, Inc. (P). Cox, one of the brothers, died and his administrator Rustin (D)
neglected to exercise his repurchase rights. D asserted that there were conflicting
provisions in the contract. The contract called for a yearly price reevaluation. This would
be in conflict with the repurchase agreement. P wishes to force D to repurchase the rights
that he neglected to exercise upon the death of Cox.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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