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WKG-TV VIDEO ELECTRONIC COL., INC. v. REYNOLDS

No. 92 CA 0487.

618 So.2d 1023 (1993)

WKG-TV VIDEO ELECTRONIC COLLEGE, INC., Plaintiff-Appellant, v. Donald Gene REYNOLDS, Defendant-Appellee.

Court of Appeal of Louisiana, First Circuit.

April 23, 1993.

Attorney(s) appearing for the Case

Walter Clawson, Shreveport, for plaintiff-appellant WKG-TV Video Electronic College, Inc.

Joseph Lewis, Baton Rouge, for WKG-TV Video Electr. College & Walter Guillot.

Richard Zimmerman, Baton Rouge, for defendant-appellee Donald Gene Reynolds.

Before WATKINS, CRAIN and GONZALES, JJ.

CRAIN, Judge.

WKG-TV Video Electronic College, Inc. (WKG), was the owner and operator of WKG-TV Video Electronic Institute (Institute). WKG was a Louisiana corporation located in Baton Rouge. Its shareholders were Walter K. Guillot (60%) and Lionel J. Thibodeaux (40%). They were also the officers and directors of WKG. The Institute was located in Houston, Texas. WKG and Donald Gene Reynolds entered into an "Agreement to Buy/Sell" by which Reynolds

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