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509590
IN TR8 CIRCUIT COURT OF THE NINE-
TBENTH JUDICIAL CIRCUIT IN AND FOR
ST. LUCIB COUNTY, FLORIDA.
CASE N0. 79-593 CA
WALLACE K. TAYLOR, JR.,
Plaintiff,
vs.
STEVE ALER,
Defendant.
FINAL JUDGMENT
THIS ACTION was tried before the Court on October 29
and 31, 1980. On the evidence presented, the Court finds as
follows:
In Count I of the Amended Complaint, Plaintiff seeks
specific performance of an agreement entered into between the
parties on August 20, 1979. This agreement provided that Plain-
tiff was to trade and transfer to Defendant all of the stock
owned by Plaintiff, (200 shares) of Golden South Airlines, Inc.
(hereinafter referred to as Golden South) in exchange for De-
fendant transferring 6,250 shares of Air Florida Systems, Inc.
(hereinafter referred to as Air Florida) to Plaintiff. This
agreement also provided that Plaintiff was to resign from the
Board of Directors and Executive Committee of Golden South and
to release any and all claims Plaintiff might have against
Golden South, its directors and stockholders. In Count I,
Plaintiff now seeks to compel Defendant to transfer 6,250 shares
of the common stock of Air Florida to Plaintiff. The 6,250 shares
of common stock of Air Florida owned by Defendant was legend stock,
which restricted its sale to the public for a period of two years.
However, this did not mean it could not be sold to an individual
because of certain exemptions, but that the purchaser of the
stock would also have a two year period of restriction dating
from the new transfer date. Plaintiff contends that because of
these restrictions on the stock, Air Florida stock was unique and
damages are inadequate, and that he is entitled to specific per-
formance. Defendant contends that this stock is not unique; that
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X344 P,~1284
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