The plaintiffs brought a motion under Rule 49.09 to enforce an alleged settlement agreement for the purchase and sale of shares in a private corporation.
The court found that a binding agreement was initially formed through an exchange of emails for the purchase of shares for $100,000.
However, the defendant subsequently breached this agreement by failing to take steps to implement it.
The court further found that the plaintiff, in response to the defendant's breach, accepted the defendant's repudiation of the contract by proposing a new, lower purchase price of $98,800.
This action by the plaintiff terminated the original agreement, discharging both parties from further obligations under it.
Consequently, the plaintiffs' motion for judgment to enforce the original $100,000 settlement agreement was dismissed.