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Civil Procedure Keyed to Cound
Hiatt v. Yergin
Facts
Plaintiffs entered into two simultaneous contracts with Defendant. The first sold to Defendant a one-half interest in Plaintiffs’ beverage company. The second contract was set up for Defendant to re-sell the one-half interest to Plaintiffs in the event Plaintiffs could not obtain a liquor license for another liquor distributorship. Plaintiffs claimed they performed the first contract and conditions precedent to the second, but Defendant refused to sell back the shares. Plaintiffs claimed damages for the withholding of stock and specific performance for return of the stock. Plaintiffs also requested a jury trial, but the trial court denied the motion stating that Plaintiffs did not use due diligence in their efforts to obtain the license, nor did they apply for the necessary permits for the reissuance of the stock.
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