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PERSHING INDUSTRIES, INC. v. SHUPNICK

No. 75-425.

325 So.2d 410 (1976)

PERSHING INDUSTRIES, INC., a Florida Corporation, Appellant, v. Lawrence SHUPNICK and Albert Wilensky, Appellees.

District Court of Appeal of Florida, Third District.

Rehearing Denied February 11, 1976.

Attorney(s) appearing for the Case

Janice Revitz, Miami, for appellant.

Michael A. Pelle, Ginsberg & Goldman, North Miami Beach, for appellees.

Before PEARSON, HENDRY and HAVERFIELD, JJ.

PER CURIAM.

The issue presented on this appeal is: Is a contract for the purchase of stock in a corporation subject to the equitable remedy of rescission when the contract provides that the sale price of the stock shall be determined by a particular method and when that method is not capable of performance. The trial court held that the provision for the ascertainment of the purchase price was a dependent covenant and that by its impossibility of performance the contract...

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