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State court of last resort · ST-VA-SC
Stockbridge v. Gemini Air Cargo, Inc.
No. 041716Supreme Court of Virginia
041716 Stockbridge v. Gemini Air Cargo, Inc. 04/22/2005 In a breach of contract action pertaining to a Delaware corporation's obligation to repurchase shares of its own stock from a former employee, the trial …
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041716 Stockbridge v. Gemini Air Cargo, Inc. 04/22/2005 In a breach of contract action pertaining to a Delaware corporation's obl…
- Court
- Supreme Court of Virginia
- First added here
- October 4, 2026
- Last entry
- April 22, 2005
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Docket entry
041716 Stockbridge v. Gemini Air Cargo, Inc. 04/22/2005 In a breach of contract action pertaining to a Delaware corporation's obligation to repurchase shares of its own stock from a former employee, the trial court erred by relying on Title 8, Section 160(a) of the Delaware Code in granting summary judgment in the corporation's favor. Issues concerning the propriety of summary judgment, a corporation's standing to assert this statute as a defense to a contractual stock repurchase obligation, and waiver of contract rights are discussed. The judgment of the trial court is reversed and the case remanded for further proceedings.
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ReversedRemandedGranted
The court's record, as written
041716 Stockbridge v. Gemini Air Cargo, Inc. 04/22/2005 In a breach of contract action pertaining to a Delaware corporation's obligation to repurchase shares of its own stock from a former employee, the trial court erred by relying on Title 8, Section 160(a) of the Delaware Code in granting summary judgment in the corporation's favor. Issues concerning the propriety of summary judgment, a corporation's standing to assert this statute as a defense to a contractual stock repurchase obligation, and waiver of contract rights are discussed. The judgment of the trial court is reversed and the case remanded for further proceedings.
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