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GREENE COUNTY TIRE AND SUPPLY, INC. v. SPURLIN

338 S.W.2d 597 (1960)

GREENE COUNTY TIRE AND SUPPLY, INC., Appellee, v. R.C. SPURLIN, Appellant.

Supreme Court of Tennessee.

September 9, 1960.

Attorney(s) appearing for the Case

O. C. Armitage, Jr., Greeneville, for appellant.

S. J. Milligan, Greenville, for appellee.

TOMLINSON, Justice.

In June of 1958, Greeneville Tire and Recapping Company sold its assets, with certain minor exceptions of no importance in this case, to Greene County Tire and Supply, Inc., for a substantial cash consideration. All the stock in the selling corporation was owned by W.H. Gulley, Roy Marshall and R.C. Spurlin.

As part of the consideration, Marshall and Spurlin agreed, and it was so written into...

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