North American Rescue Products, Inc. v. Richardson

This declaratory judgment action was commenced by North American Rescue Products, Inc. (NARP) to determine whether P.J. Richardson had the right to purchase 7.5% of NARP’s stock at a discounted price despite the existence of a termination agreement which purported to end the parties’ relationship. Following a jury verdict allowing Richardson to purchase the stock for $2,936,000.00, both parties appealed. We granted certiorari to review the court of appeals’ decision affirming the jury verdict. Because we find the termination agreement unambiguously ended any right Richardson had to purchase…