HONOLULU RAPID TRANSIT COMPANY v. Paschoal

OPINION OP THE COURT BY

ABE, J.

This case raises the issue whether appellee, Ernest G. Paschoal, had agreed to sell to appellant, Honolulu Rapid Transit Company, Ltd., all of the shares of stock of Paschoal’s, Ltd.

On Saturday, January 14, 1967, appellee and appellant’s corporation president, Weinberg, had entered negotiation for the sale of Paschoal’s, Ltd. Paschoal had quoted a price of $100,000, and Weinberg had countered with the figure of $75,000.

In the Saturday negotiation the parties had agreed to certain terms and covenants but not to other terms and covenants. Paschoal at the…