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SIMPROP ACQUISITION v. L. SIMPSON UNITRUST

No. A10A1396.

699 S.E.2d 860 (2010)

SIMPROP ACQUISITION COMPANY v. The L. SIMPSON CHARITABLE REMAINDER UNITRUST et al.

Court of Appeals of Georgia.

August 10, 2010.

Attorney(s) appearing for the Case

Cushing, Morris, Armbruster & Montgomery, Kirk M. McAlpin Jr. , for Appellant.

Vaughn, Wright & Boyer, Frederick L. Wright II , James A. Vaughn , Forsyth, for Appellees.

ANDREWS, Presiding Judge.

In January 2007, shortly after the closing of the fourth transaction in a series of land purchases dating from 2002 and worth more than $40 million, the seller's executor notified the buyer that she considered the 2002 agreements "null and void," but offered to buy back the property already purchased. The buyer—Simprop Acquisition Company and its owner, Stanley Thomas (collectively, "Simprop")—rejected these new terms and sued...

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