Wells v. Wells

When Ruth A. Wells (Ruth) and Arthur M. Wells (Arthur) ended their marriage in divorce, they also put asunder their interest in a corporation, Ramson, Inc., in which each owned half the capital stock. Under the agreement (entitled “STIPULATION”) which became incorporated in the divorce decree, Arthur agreed with Ruth to sell his stock in Ramson, Inc., to it for $52,500, of which $2,500 was to be paid “forthwith,” the balance in monthly payments of $1,000, with no interest. Arthur agreed not to compete with Ramson, Inc., within Worcester County, Barnstable County and the “greater New Bedford,…