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SHARPE v. PARK NEWSPAPERS OF LUMBERTON, INC.

No. 56A86.

347 S.E.2d 25 (1986)

John A. SHARPE, Jr.; Helen A. Sharpe; Clifford S. Sharpe; Brenda B. Sharpe; and Hal C. Sharpe v. PARK NEWSPAPERS OF LUMBERTON, INC.

Supreme Court of North Carolina.

August 12, 1986.

Attorney(s) appearing for the Case

McCoy, Weaver, Wiggins, Cleveland & Raper, by Donald W. McCoy, Fayetteville, and Lee & Lee, by W. Osborne Lee, Jr., Lumberton, for plaintiffs-appellees.

Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, by Samuel G. Thompson, Michael E. Weddington and William H. Moss, Raleigh, for defendant-appellant.

BILLINGS, Justice.

In 1982, the defendant purchased the assets of The Robesonian, Inc., whose business was the publication of a daily and Sunday newspaper in Lumberton, North Carolina called The Robesonian. The plaintiffs, minority stockholders in The Robesonian, Inc., voted against the sale of the assets.

In partial payment of the $11,751,000.00 purchase price for the assets of the corporation, the defendant gave promissory notes to the corporation, which...

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