Yochum v. Davis

OPINION

Appellants Merritt K. Yochum and Rose Marie Yochum appeal from an order of the district court denying their motion to set aside a default judgment.

THE FACTS

Respondent Janice Ann Davis’ late husband, Bob Railson, paid $5,000 in 1975 for approximately 100 shares of stock in Tool Tote, Inc. A “Buy-Sell Agreement” mandated repurchase by Tool Tote, Inc. of a stockholder’s interest upon that stockholder’s death, and provided that if all of the stockholders and Tool Tote, Inc. did not agree on a valuation of a stockholder’s interest within 180 days of that stockholder’s death, the value would…