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WILGUS v. SALT POND INV. CO.

Civ. A. No. 1056.

498 A.2d 151 (1985)

Gerald WILGUS, individually and as agent for a limited partnership to be formed, and Salt Pond, L.P., a Delaware limited partnership, Plaintiff, v. SALT POND INVESTMENT COMPANY, a Delaware corporation and William P. Short, Jr., individually and Carl M. Freeman Associates, Inc., a Maryland corporation, Defendants.

Court of Chancery of Delaware, Sussex County.

Decided: June 6, 1985.

Attorney(s) appearing for the Case

Melvyn I. Monzack and Eric L. Grayson of Walsh & Monzack, Wilmington, for plaintiff.

N. Maxson Terry, Jr. of Terry, Jackson, Terry & Wright, Dover, for defendants Salt Pond Inv. Co. and William P. Short, Jr.

Randy J. Holland and William B. Chandler, III of Morris, Nichols, Arsht & Tunnell, Georgetown, for defendant Carl M. Freeman Associates, Inc.

WALSH, Vice Chancellor.

In this action for specific performance the plaintiff, Gerald Wilgus, individually and on behalf of a limited partnership, Salt Pond L.P. ("the Wilgus Group"), seeks enforcement of certain purchase agreements for the sale of a 380 acre tract of land adjacent to Bethany Beach, Delaware. The property in question is owned by the defendant William B. Short, Jr. and Salt Pond Investment Company, a family trust controlled by Short. The defendant...

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