United States Seventh Circuit

In parties' dispute over the terms of a stock purchase agreement entered into in 1989 and several modification of the agreement over the next decade involving a small number of shares in two automobile dealerships and whether the contract also gave plaintiff option to purchase remaining shares, summary judgment in plaintiff's favor is reversed as extrinsic evidence is required to clarify what the parties meant because the contract as modified is reasonably susceptible to both parties' interpretation and is therefore ambiguous regarding the survival of the options.

Appellate Information

• Argued 10/27/2008
• Decided 11/20/2009
• Published 11/20/2009

Judges

• SYKES, Circuit Judge., Before KANNE, WILLIAMS, and SYKES, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellees:
  
• Douglas E. Lee (argued), Ehrmann, Gehlbach & Beckman, Dixon, IL, for Plaintiff-Appellee., Stewart M. Weltman (argued), Futterman, Howard, Ashley, Waykins & Weltman, Chicago, IL, for Defendant-Appellant.