Shell Oil Co. v. Trailer & Truck Repair Co.

OPINION OF THE COURT

GIBBONS, Chief Judge:

Trailer & Truck Repair Co., Inc. and Herb C. Enterprises, Inc. appeal from a summary judgment in favor of Shell Oil Company in Shell’s action for specific performance of an option of first refusal to purchase real estate, 638 F.Supp. 1105. Our review of the District Court’s interpretation of New Jersey law is plenary. Under New Jersey law, Shell is not, in the circumstances disclosed in the summary judgment record, entitled to specific performance of its option of first refusal. Thus the judgment appealed from will be reversed.

I

Four contiguous…