Halacha and Beit Din litigation

[Susan Freiman]

I am handling some commercial litigation in the Beit Din in Bnei Brak, 
Israel (where I live).  It is not clear whether halacha or secular law 
applies to the question.

If halacha, I need help understanding the issues and how they would be 
resolved.  Can someone here guide me?

The basic contract provided for the sale of shares of stock in a private 
corporation from Seller to Buyer, payment to be made in three 
installments.  The first payment was made, and all the stock was 
transferred into the name of the Buyer on the corporate books.  Under 
the contract, if there was a delay in making either the second or third 
payment, the S had three options:  He could pay something to Buyer and 
recover all the stock.  He could collect the unpaid purchase price.  Or 
he could recover two thirds or one third of the stock, depending on 
which payment was missed.  The Buyer had no say in Seller's choice of 
which option to exercise.

Buyer defaulted in the second payment, Seller elected to recover 
two-thirds of the stock.  Seller moved in the Beit Din to get the 
shares.  Buyer made some claims (which the dayanim seem prepared to 
decide were frivolous) in defense that he did not owe anything to the 
Seller.  All that was seven years ago, and the action has been kicking 
around since then.

Assume, please, that the Beit Din has jurisdiction and that halacha 
applies - I won't bore you with all the facts and arguments about which 
law applies.  The defendant claims that a transfer of the shares back to 
Seller would constitute a buy back, and therefore a new kinyan would be 
needed.  I don't know anything about halacha.  Is this claim valid?  If 
so, what would a new kinyan be, and could it be given now?  Are there 
any books in English which would help me understand the area?

By the way, the parties and the dayanim are all originally Americans, so 
I can make my argument in English.  However, if there are words of art 
in English or Yiddish, I would appreciate learning them.

Susan

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