Gorlin v. Reece

Beasley, Judge.

This appeal stems from a dispute surrounding two promissory notes executed by Reece in favor of Gorlin.

In the late 1960’s Gorlin and Reece were involved together in several business enterprises and transactions. In 1969, the parties agreed that Reece would purchase 35,000 shares of Tagor Exploration Company stock from Gorlin. The terms of the transaction were memorialized in an agreement dated October 28, 1969, which was approved by Reece and Gorlin and witnessed by Gorlin’s attorney.

The agreement stated that Reece was purchasing from Gorlin the 35,000 shares for $210,000 at $6…