Wallace v. Wallace

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In 2011, following an apparent series of family disputes, Dorsey “Doss” Wallace filed a complaint for accounting and damages against his brothers Gary and Phillip Wallace, alleging that they had deprived Doss of his lawful interests as a shareholder of the family business, Wallace Electric Company. The parties offered competing about which agreement, if any, governed the ownership of stock in Wallace Electric, and about what the terms of those agreements would require. The trial court ultimately concluded in a bench trial that Doss should be paid $54,200 for his stock. But because the court correctly admitted that its order did not reach the factual or legal conclusions required to resolve this case, the Georgia Supreme Court vacated the order and remanded for proper consideration of, and conclusions regarding, the legal questions at issue in this case. View "Wallace v. Wallace" on Justia Law