North Carolina Business Litigation Report

Praxair, Inc. v. Airgas, 1999 NCBC 9 (N.C. Super. Ct. Oct. 20, 1999)(Tennille)

This case involved the question whether a joint venture agreement, by which the defendant acquired 47% of the stock of a non-party, violated the plaintiff's right of first refusal under an agreement with the non-party.

The Court held that a restraint on the transfer of ownership must be strictly construed, particularly where the restraint may also have the capacity to limit competition in the marketplace.

The Court found that a party acting for a legitimate business purpose could not be liabile for tortious interference with contract.

Full Opinion

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Mack Sperling
Brooks Pierce, LLP
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