(1) 25% discount for minority interest and lack of marketability affirmed and (2) Presumption that buy-sell controls does not apply where it does not fix a specified price, but only an ongoing process for determining price.
Court did not abuse its discretion by accepting excess earnings method of valuation despite buy/sell agreement.
Trial court did not err in finding that the prior stock sale between brothers, governed by the shareholder’s agreement, was not indicative of the value of the stock. The buy-out agreement did not replicate an arm’s length transaction.
Partnership buyout agreement setting “book value” as sales price was unenforceable when special magistrate was unable to calculate book value based on the records provided.