Lloydona Peters Enterprises, Inc. v. Dorius

HALL, Chief Justice:

Plaintiff Lloydona Peters Enterprises, Inc. (LPE), appeals the trial court’s dismissal of its action for specific performance of an alleged contract to convey to it an interest in real property owned by defendants. At issue on appeal is whether Jean P. Hull, president of LPE, held authority to initiate this action on its behalf.

LPE is owned by four sisters, one of whom is defendant DeLoris P. Dorius. The corporation’s assets consist of real property inherited from their mother, Lloydona Peters. Each sister holds an equal share in the stock of the corporation and each…