Court Opinion

ID: 9583421
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:38:26.006808+00
Date Added: 2024-06-11T13:39:00.532785
License: Public Domain

Brailsford, Justice
(concurring in part) :
I agree with Justice Littlejohn’s conclusion as to the issues relating to the Will of Frances Peace Graham. I agree in part with his conclusion as to the Will of Roger C. Peace.
The circuit decree authorizes the executors to sell stock only after obtaining waivers from Mrs. Ramsaur, the corporation and all members of the Peace family, as defined in the Will, who own any stock in the corporation. Such waivers will be the equivalent of refusals to purchase stock at any price by all persons entitled to preference under the terms of the Will; whereupon, the executors and trustees may, under the authority conferred by the Will, sell the stock to others. I agree that members of the Peace family who may thereafter acquire stock in the corporation will acquire no rights with respect to the stock so sold. However, I am not prepared to hold, as does the circuit decree, that waivers now obtained from all stockowning members of the Peace family will, as to future sales of stock, bar the preferential rights of other members of the family who may then own stock in the corporation; nor do I understand that a decision of this issue is necessary to accomplish the purpose of the action.
With this modification, I would affirm the order of the circuit court.
Bussey, J., concurs.