Cates v. Cates

Mobley, Justice.

1. The plaintiffs contend that the trial judge erred in making the following finding and ruling in granting the summary judgment: “(1) That under the provisions of Item IX of the Will of Russell R. Cates, deceased, the deceased gave to his brother, James Cates, one of the Executors, an option to purchase his business known as the ‘Albany Amusement Company’ at its book value less 20%, which amount would represent the reasonable market value of said business; that by the use of the term ‘book value,’ the testator meant the value of said business as shown by the books kept by the…