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LYON v. WILLIE

No. 62313.

288 N.W.2d 884 (1980)

George J. LYON and Lloyd J. Farrer, Appellees, v. B. V. WILLIE, Appellant, and Spencer Community Antenna System, Inc., Appellee. B. V. WILLIE, Appellant, v. George J. LYON, Lloyd J. Farrer and Spencer Community Antenna System, Inc., Appellees.

Supreme Court of Iowa.

February 20, 1980.

Attorney(s) appearing for the Case

Robert F. Wilson, Cedar Rapids, and Robert W. Sackett, Spencer, for appellant.

Leo E. Fitzgibbons and Harold W. White of Fitzgibbons Brothers, Estherville, for appellees.

Considered by LeGRAND, P. J., and UHLENHOPP, McCORMICK, ALLBEE and McGIVERIN, JJ.

McCORMICK, Justice.

This appeal concerns a right of first refusal in a buy-sell agreement among the stockholders of defendant Spencer Community Antenna System, Inc. Plaintiffs George J. Lyon and Lloyd J. Farrer and defendant B. V. Willie are the sole stockholders. Plaintiffs each own fifty shares of stock in the corporation, and Willie owns one hundred shares. As authorized in the buy-sell agreement, plaintiffs negotiated a sale of all the stock subject to Willie...

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