ROUSE & ASSOCIATES, INC. v. DELP


442 Pa.Super. 226 (1995)

658 A.2d 1383

ROUSE & ASSOCIATES, INC. and Willard G. Rouse, III and George F. Congdon, t/a Rouse & Associates, Appellants, v. W. Paul DELP and Lansdale Realty Company, Inc., Intervenor, Appellees. ROUSE & ASSOCIATES, INC. v. W. Paul DELP, Lansdale Realty Co., Inc. Appeal of W. Paul DELP.

Superior Court of Pennsylvania.

Filed June 1, 1995.


Attorney(s) appearing for the Case

Mark C. Clemm, Plymouth Meeting, for Rouse & Associates.

Mark F. Himsworth, Lansdale, for Delp.

Before WIEAND, BECK and BROSKY, JJ.


WIEAND, Judge:

We are here concerned about the effect of restrictions imposed upon the alienability of the shares of stock of a family owned corporation upon execution by a creditor against one of the shareholders. The trial court held that (1) the restrictive covenant did not prevent the involuntary sale of the debtor's stock, but (2) the purchaser took title subject to the terms of the restrictions imposed by the stockholders' agreement. Both parties appealed. We...

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