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ESTATE OF PENROSE

486 Pa. 9 (1979)

403 A.2d 982

In the Matter of the ESTATE of Boies PENROSE, Deceased. Appeal of R. & R. INVESTMENT CORPORATION, Appellant.

Supreme Court of Pennsylvania.

Decided July 5, 1979.

Reargument Denied August 6, 1979.

Attorney(s) appearing for the Case

Herbert J. Bass, Fox, Rothschild, O'Brien & Frankel, Israel Packel, Philadelphia, for appellant.

John G. Shea, Bryn Mawr, for appellees, Charles B.B. Penrose, et al.

Dallett Hemphill, West Chester, for appellees, First Pa. Bank, et al.

Noah D. Cutler, Radnor, for appellee, James W. Keeley, Jr.

Israel Packel, Philadelphia, for R. & R. Investment Corp.

Before EAGEN, C.J., and O'BRIEN, ROBERTS, NIX, MANDERINO and LARSEN, JJ.

OPINION OF THE COURT

ROBERTS, Justice.

Boies Penrose died on February 27, 1976. His estate included real property in Chester County consisting of his residence, other improvements, and forty-four acres of land. On June 30, 1977, the executors of his estate entered into a written agreement for the sale of the realty to the R. & R. Investment Corporation ("R. & R.") for $512,500. The agreement of sale was subject...

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