Lee v. Ferryman

Madsen, J. *

— This case arises out of a breach of contract action between two co-equal stockholders of The New Portland Meadows, Inc. (TNPM), an Oregon corporation which operates the Portland horse racing track. The Clark County Superior Court granted summary judgment in favor of Plaintiff, Darrell Lee, holding that Defendant, Gene Ferryman, had activated the buy-out provisions of the company’s "Stock Purchase Agreement.” As a result, the trial court granted specific performance to Lee, compelling Ferryman to sell his stock in TNPM to Lee. Ferryman appeals this ruling and argues that a prior…