Smith v. Food Concepts, Inc.

DYCHE, Judge.

Daniel M. and Patricia A. Smith, appellants herein, purchased a business from Food Concepts, Inc. (appellee), paying part of the purchase price in cash, and executing a promissory note for the balance. Appellee brought this action to enforce payment of the note, alleging default by the Smiths; in their answer appellants admitted the execution and terms of the note, as well as non-payment of four installments thereunder. In addition appellants raised fraud and misrepresentation by ap-pellee as a defense to the note obligation and as a counterclaim.

Daniel M. Smith was deposed by…