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MARTIN v. CAROLINA WATER SERVICES, INC.

20929

273 S.C. 43 (1979)

254 S.E.2d 52

Jimmy L. MARTIN, Respondent, v. CAROLINA WATER SERVICES, INC., an affiliate of Utilities, Inc. and Millard D. Shriver, Defendants, of whom Carolina Water Service, Inc., is Appellant.

Supreme Court of South Carolina.

April 5, 1979.

Attorney(s) appearing for the Case

George S. King, Jr., of Boyd, Knowlton, Tate & Finlay, Columbia, for appellant.

Jonathan R. Hendrix, of Walker, Hendrix & Williams, Lexington, for respondent.

April 5, 1979.

LITTLEJOHN, Justice:

The plaintiff, Jimmy L. Martin, was the owner of all of the outstanding stock of Marville Water Company, which owned a water and sewer system. He entered into an agreement to sell the company, by transferring its stock, to the defendant, Carolina Water Services, Inc. The consideration for the sale was, among other things, $110,000.00 in cash plus an agreement that Carolina Water Services, Inc.

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