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EMPIRE OF AMERICA v. COMMERCIAL CREDIT

551 A.2d 433 (1988)

EMPIRE OF AMERICA RELOCATION SERVICES, INC., Defendant Below, Appellant, v. COMMERCIAL CREDIT COMPANY, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: November 28, 1988.

Reargument Denied: December 20, 1988.

Attorney(s) appearing for the Case

George H. Seitz, III, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Richard E. Moot (argued), and Michael E. Ferdman, of Moot & Sprague, Buffalo, N.Y., on behalf of appellant.

E. Norman Veasey and Robert W. Whetzel, of Richards, Layton & Finger, Wilmington, Jefferson V. Wright (argued), and James R. Eyler, of Miles & Stockbridge, Baltimore, Md., on behalf of appellee.

Before HORSEY, MOORE and HOLLAND, JJ.

HOLLAND, Justice:

This appeal relates to the sale by Commercial Credit Company ("Commercial Credit") to Empire of America Relocation Services, Inc. ("Empire") of all of the issued and outstanding stock of Relocation Realty, Inc. ("Relocation Realty"). Prior to the sale, Relocation Realty was a wholly owned subsidiary of Commercial Credit. The sale was effectuated by a Stock Purchase Agreement dated December 21, 1985 ("Agreement") and two amendments to the Agreement...

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