This section contains the nature of the case and procedural background.

Three brothers entered into a stock purchase and restriction agreement to protect 'their best interests'. They each owned one-third of Concord Auto Auction, Inc. (P) and E.L. Cox Associations, Inc. (P). Cox, one of the brothers, died and his administrator Rustin (D) neglected to exercise his repurchase rights. D asserted that there were conflicting provisions in the contract. The contract called for a yearly price reevaluation. This would be in conflict with the repurchase agreement. P wishes to force D to repurchase the rights that he neglected to exercise upon the death of Cox.

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