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CHATTERTON v. BUSINESS VALUATION RESEARCH

No. 16324-5-III.

951 P.2d 353 (1998)

Garth CHATTERTON and Joan Chatterton, husband and wife, Respondents, v. BUSINESS VALUATION RESEARCH, INC., a Washington corporation, Defendant, A & H Printers, Inc., a Washington corporation, Roger Biallas and Marilyn Biallas, husband and wife, Appellants.

Court of Appeals of Washington, Division 3, Panel Nine.

February 19, 1998.

Attorney(s) appearing for the Case

Dennis J. Dunphy, Schwabe, Williamson, Ferguson & Burdell, and Michael T. Schein, Seattle, for Appellants.

John S. Moore, Jr., Velikanje, Moore & Shore, Yakima, for Respondents.

SWEENEY, Judge.

This case arises from a dispute over the meaning of the term "value" in a shareholder buyout agreement of a closely held printing business. The majority shareholder agreed to buy out the retiring minority shareholder's interest at a value to be determined by a small business evaluator selected by their attorneys. The buyout agreement also outlined the procedure for valuing the stock: An MAI appraiser would value the tangible assets. A small business...

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