Ingle v. Glamore Motor Sales, Inc.,
535 N.E.2d 1311 (1989)
Nature Of The Case
This section contains the nature of the case and procedural background.
Facts
Ingle (P) was hired as a sale manager for Glamore (D) with no express agreement between the parties establishing duration of conditions of employment. Two years later, P entered into a written agreement with D to purchase 22 of 100 shares with a five-year option to purchase 18 more shares. The agreement also gave D the right to repurchase the shares if employment of P was to cease for any reason. Eventually, P purchased his 18 additional shares under a similar agreement but 60 more shares were issued by D, and they were purchased by D and his sons. A third shareholder agreement was made giving D the right to purchase within 30 days any shareholders' interests upon termination of employment for any reason. In 1983, P was voted out, and D notified P that he wanted to purchase P's shares. P sued for breach of fiduciary duty, and breach of contract. All causes of action were dismissed. P appealed.
Issues
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Holding & Decision
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Legal Analysis
Legal analysis from Dean's Law Dictionary will be displayed here.
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