Evidence supported conclusion that agreement signed by wife at husband’s behest ostensibly relinquishing her interest in their company in exchange for three million dollars to be paid in annual million-dollar installments was invalid based on husband’s overreaching and misrepresentations to wife. Husband pressured wife into signing agreement, while husband encouraged wife to consult independent legal counsel as to whether to sign agreement, he told her counsel would try to talk her out of signing agreement because they would not understand what it was intended to accomplish. Agreement was unfair and unreasonable, given disparity between the business experience of the parties, and the emotional pressure and misinformation from husband. His disclosures to wife regarding company’s value, which was fixed at $43,063,800, was neither full nor fair.
Laura Morgan is a Family Law Consultant. Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com