Estate of Lowry

OPINION OF THE COURT

MANDERINO, Justice.

Robert L. Lowry, now deceased, and appellee, Robert Griffin, owned all of the outstanding stock of Robert L. Lowry, Inc. In 1972 they entered into a Restrictive Stock Agreement whereby, upon the death of either stockholder, the survivor was entitled to purchase the shares of the deceased stockholder. The agreement provided that the purchase price to be paid by the survivor was to be determined after the computation of “net shareholders’ equity” according to a formula specified in the agreement which provided a method for the appraisement of assets…