North Carolina Business Litigation Report

Charlotte Copy Data, Inc. v. Habbal, 1997 NCBC 4 (N.C. Super. Ct. Nov. 11, 1997)(Tennille)

An agreement requiring a shareholder in a closely held corporation to sell his shares back to the corporation upon termination of his employment is valid and enforceable, as a closely held corporation is entitled to determine who will participate in its business. Book value is a typical and accepted means of determining a purchase price.

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Mack Sperling
Brooks Pierce, LLP
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Greensboro, NC 27401

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