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BOWEN v. CARLSBAD INS. & REAL ESTATE

No. 15797.

724 P.2d 223 (1986)

104 N.M. 514

James W. BOWEN, Plaintiff-Appellant and Cross-Appellee, v. CARLSBAD INSURANCE & REAL ESTATE, INC., a New Mexico corporation, Defendant-Appellee and Cross Appellant.

Supreme Court of New Mexico.

August 27, 1986.

Attorney(s) appearing for the Case

Losee & Carson, Joel M. Carson, Artesia, for plaintiff-appellant and cross-appellee.

Martin & Behles, W.T. Martin, Jr., Carlsbad, for defendant-appellee and cross-appellant.

OPINION

SOSA, Senior Justice.

This case involves a controversy concerning a contract for the sale of an insurance business. On or about January 25, 1980, Plaintiff James W. Bowen (Bowen) entered into a stock purchase agreement with Defendant Carlsbad Insurance and Real Estate (Carlsbad), whereby Carlsbad was to redeem all of Bowen's stock for a total purchase price of $796,751. Bowen was the president and majority shareholder of Carlsbad, a New Mexico corporation...

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