Burns v. Sealy Insurance Agency, Inc.

STEAGALL, Justice.

This appeal arises from an alleged breach of a contract for the sale of stock in which John L. Burns agreed to sell all of his outstanding shares in Sealy Insurance Agency, Inc., to that company. Burns sued the insurance company, Charlie 0. Sealy, Virginia R. Sealy, and William E. Payne, alleging duress, fraud, and breach of contract. The defendants’ answer included several affirmative defenses, among them the statute of limitations, and also asserted a counterclaim for breach of a covenant by Burns not to compete.1 The trial court granted summary judgment for the defendants…