Nelson v. Leaders

This is an action to enforce a restrictive covenant in a buy and sell agreement between stockholders in a farm equipment business holding an International Harvester dealership doing business in Council Bluffs. Plaintiffs are the remaining stockholders and the corporation. Defendant was employed by the individual plaintiffs in 1959 while they were partners in the farm equipment business. Defendant' later became a partner in the business. In June 1961 they incorporated as Council Bluffs Farm Equipment, Inc. Each individual plaintiff had 540 shares of stock and defendant 120 shares of stock in…