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HODGES v. PITTMAN

78-737.

384 So.2d 14 (1980)

S. A. HODGES v. Catherine Parker PITTMAN, etc., et al.

Supreme Court of Alabama.

May 23, 1980.

Attorney(s) appearing for the Case

Champ Lyons, Jr. and Larry U. Sims of Coale, Helmsing, Lyons & Sims, Mobile, for appellant.

Irvin J. Langford and George W. Finkbohner, Jr. of Howell, Johnston, Langford, Finkbohner & Lawler, Mobile, for appellee Catherine Parker Pittman, etc.

Erling Riis, Jr. and Ronald P. Davis of Vickers, Riis, Murray & Curran, Mobile, for appellees Pittman Equipment Company, Inc., Wyman G. Rainey, William W. Lamar and Isaac L. Dennis.

FAULKNER, Justice.

This is an appeal from a judgment of the Circuit Court of Mobile County, holding that a buy-sell agreement of capital stock of a closely held corporation was null and void. We reverse.

In October, 1977, the stockholders of Pittman Equipment Co., Inc., consisting of James B. Pittman, S. A. Hodges, Wyman G. Rainey, William W. Lamar, and Isaac L. Dennis, and the Corporation entered into an agreement to impose restrictions on the transfer or...

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