Esposito v. Esposito
Annotate this CaseFormer spouses disputed the property settlement agreement that was entered into in connection with their divorce. The dispute centered around a minority interest in Prime Time Manufacturing, Inc. The agreement specified that Husband would retain his twenty-five percent ownership interest in Prime Time. After the agreement was approved but before final judgment was entered, Joseph learned that his ownership interest was worth significantly more than the value upon which the parties had agreed. Sharon Esposito moved to reform the agreement or vacate the judgment, which motion was denied by the family court. The Supreme Court affirmed, holding that because the agreement was fair and equitable when the parties entered into it, the trial justice did not abuse his discretion when he denied Sharon's motion to vacate.
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