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JACKSON LAND COMPANY v. HARBESON

No. 32041.

153 So.2d 826 (1963)

JACKSON LAND COMPANY and Pensacola Hotel Company, Petitioners, v. Minna L. HARBESON, Geraldine H. Phillips, Kelly R. Harbeson, Jr., and John W. Harbeson, Respondents.

Supreme Court of Florida.

Rehearing Denied June 21, 1963.

Attorney(s) appearing for the Case

E. Dixie Beggs, of Beggs, Lane, Daniel, Middlebrooks & Gaines, Pensacola, for petitioners.

W.J. Oven, Jr., Tallahassee, for respondents.

THOMAS, Justice.

The respondents were the owners of a one-ninth interest in the outstanding stock of Pensacola Hotel Company, operator of the San Carlos Hotel. On 28 March 1960 they entered into an agreement with Jackson Land Company for the sale to the Company of their interest, aggregating 175 and 5/45 shares of the capital stock, for $310,000, payable $50,000 in cash and $3,750 on 15 July 1960 and a like amount on the 15th day of each third month following until...

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