Newman v. Associated Systems, Inc.

WALTERS, Chief Judge.

This suit for an accounting was commenced by Donald Newman, a former shareholder in two Idaho corporations. The complaint alleged the corporations and their president failed to pay Newman pursuant to an agreement when an asset belonging to one of the corporations was sold. The district court entered judgment on behalf of Newman and the defendants appeal. We affirm.

Newman, James Wallace, and others were shareholders in Associated Systems, Inc. and Associated Distributing and Leasing, Inc. In December 1973, Newman entered into a stock redemption agreement with the…