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LITTLE v. X-PERT CORP.

No. D-3411.

867 S.W.2d 15 (1993)

Glee F. LITTLE, Independent Executrix of the Estate of James Phillip Little, Deceased, Petitioner, v. X-PERT CORPORATION, Relator.

Supreme Court of Texas.

Decided December 8, 1993.

Attorney(s) appearing for the Case

Robert S. Flaniken, Oklahoma City, OK, Mark N. Buzzard, Pampa, for petitioner.

Warlick Thomas, Paul H. Williamson, Todd W. Boykin, Marty L. Rowley, Amarillo, for relator.

GONZALEZ, Justice, delivered the opinion of the Court, in which HIGHTOWER, DOGGETT, GAMMAGE and SPECTOR, Justices, join.

At issue in this case is who is entitled, under a Buy-Sell Agreement between the shareholders of a closely held corporation, to the proceeds of a life insurance policy taken out on a former shareholder at a time when he still owned shares. The corporation commenced this declaratory judgment action against the former shareholder's estate and the...

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