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McTEAGUE v. TREIBITS

No. 79-942.

388 So.2d 309 (1980)

Robert P. McTEAGUE, Appellant, v. Lewis D. TREIBITS, Appellee.

District Court of Appeal of Florida, Fourth District.

September 17, 1980.

Attorney(s) appearing for the Case

James R. Hustad of Hustad & Kurtz, West Palm Beach, for appellant.

Sidney A. Stubbs, Jr. of Jones, Paine & Foster, West Palm Beach, for appellee.

GLICKSTEIN, Judge.

Robert P. McTeague wished to construct a warehouse on a parcel of land he owned in Delray Beach, Florida. Not being able to finance the project, he placed an advertisement in the newspaper for prospective investors. Lewis D. Treibits responded to the advertisement. They formed a corporation, Tea-Tree, Inc., and each received 500 shares of the capital stock. They also executed a Shareholders' Agreement, which provided a right of first refusal in...

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