Murray Van & Storage, Inc. v. Murray

LETTS, Judge.

This appeal, which under all the circumstances we treat as plenary, stems from a trial judge’s grant of a summary judgment which held, as a matter of law, that a “buy-sell” agreement between stockholders was inferior to a testamentary disposition by a stockholder. We reverse.

The facts involve a point of law hitherto, undecided in Florida although the problem has been addressed in many other jurisdictions. See 61 A.L.R.3d 1090. Simply stated, a majority of the courts have held that any restriction on the alienation of stock is to be strictly construed and testamentary disposition…