Devitt v. Quirk

This dispute arose in connection with the sale and resale of a ceramics business.

On October 13, 1973, defendants Quirk purchased a ceramics business from plaintiffs Devitt for the sum of $55,000. Plaintiffs sold the assets of the business known as "Clay and Play”, including molds, equipment, fixtures and inventory, receiving $10,000 in cash and a promissory note in the amount of $45,000.

In December, 1975, defendants Quirk sold most of the assets of the ceramics business to defendants Zuehlke in return for the Zuehlkes’ agreement to assume the Quirks’ note to Devitt, which had an outstanding…