Parties Held to GAAP Valuation Methodology Under Buy-Sell Agreement

Business Valuation UpdateVol. 10 No. 3
Legal and Court Case Update
March 2004

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7999 Amusement and Recreation Services, NEC
713990 All Other Amusement and Recreation Industries
buy/sell agreement
shareholder dispute
Smith v. Grand Canyon Expeditions Company
2003 UT 57, 2003 Utah LEXIS 137
December 16, 2003
US
State Court
Utah
Supreme Court
Derk Rasmussen (for Smith)
Nehring

Summary

An employee sued his former employer, claiming it breached the implied covenant of good faith and fair dealing.

See Also

Smith v. Grand Canyon Expeditions Company

Full Text of Court Cases
December 16, 2003

Appellant argues that net book value arrived at by Grand Canyon too low despite buy-sell agreement specifying net book value as accepted valuation method.