Duffy v. Park Terrace Supper Club, Inc.

Defendant George Schaumburg appeals from a judgment and from an order of the Hennepin County District Court denying his motion for a new trial. The trial court awarded plaintiff, Joseph P. Duffy, Jr., a 50-percent interest in the outstanding common stock of defendant corporation, Park Terrace Supper Club, Inc. (Park Terrace) and directed defendant Schaumburg to convey said stock to plaintiff. The trial court’s decision was based on oral modifications of an existing written stock option and an oral agreement as to the extension of time of performance of said stock option. The trial court also…