Lineberger v. Welsh

SHORT, Vice Chancellor.

This is an action for specific performance of a contract by which defendant agreed to sell to plaintiffs 50,000 shares of the common stock of Sensormatic Electronics Corporation at the price of $7.50 per share or a total purchase price of $375,000 of which $50,000 was paid down and the balance payable over a period of five years. Defendant has moved (1) to dismiss for lack of jurisdiction, and (2) to quash sequestration. Since the motion to dismiss is supported and opposed by affidavits it will be treated as a motion for summary judgment. This is the decision on that…