Legal Opinion
Willis v. Healthdyne, Inc.
Court of Appeals of Georgia
Decided May 9, 1989No. A89A0858, A89A0859PublishedCited by 3 opinions
1Opinion of the Court
Deen, Presiding Judge.
Frederick L. Willis III contends that he purchased 3,500 shares of Healthdyne stock in 1972 for $2 per share and that he gave a nonrecourse note which was secured by the shares as consideration. Healthdyne claims that Willis defaulted on the note and, pursuant to an agreement between the parties, the certificate which represented the 3,500 shares was cancelled and the shares were distributed to an other party. The value of the shares at the time of Willis’ default was less than Willis’ debt as represented by the note, and Healthdyne claims that it discharged Willis’…
2Cases cited4 opinions
- Emmons v. BurkettSupreme Court of Georgia · 1987
- McCullough v. Mobiland, Inc.Court of Appeals of Georgia · 1976
- Clark v. General Motors Acceptance Corp.Court of Appeals of Georgia · 1987
- Trust Co. of Columbus v. KiteCourt of Appeals of Georgia · 1982
3Cited by3 opinions
- Chen v. Profit Sharing Plan of BohneCourt of Appeals of Georgia · 1995
- Hansford v. BurnsCourt of Appeals of Georgia · 1999
- Construction Services of Samoa, Inc. v. Bank of HawaiiHigh Court of American Samoa · 2004