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LAMARQUE v. MASSACHUSETTS INDEM. & LIFE INS. CO.

No. 85-3428.

794 F.2d 194 (1986)

Ronald LAMARQUE and Lamarque Ford, Inc., Plaintiffs-Appellants, v. MASSACHUSETTS INDEMNITY & LIFE INSURANCE CO., and Equifax Services, Inc., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

July 14, 1986.

Attorney(s) appearing for the Case

Ellis B. Murov, Donald R. Mintz, New Orleans, La., for plaintiffs-appellants.

Francis Weller, New Orleans, La., for Massachusetts Indem. & Life Ins. Co.

Esmond Phelps, II, Dodge Hobson, New Orleans, La., for Equifax Services, Inc.

Before GEE and HIGGINBOTHAM, Circuit Judges, and HARVEY, District Judge.

GEE, Circuit Judge:

In 1981, Coman Norton and Ronald Lamarque executed a shareholder's agreement which stipulated that they were co-owners and equal shareholders of Norton-Lamarque Ford, Inc., an automobile dealership in Jefferson Parish, Louisiana. The agreement provided that each owned 50 shares of common stock, with the value of the stock established at $8,000 per share. The agreement further provided that in the event of the death of either party, the Corporation...

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