Osinski v. Yowell

Defendants and plaintiffs entered into an agreement whereby the defendants purchased the plaintiffs’ vending machine route. The defendants executed a promissory note and security agreement in favor of plaintiffs in the amount of $40,000, bearing interest at the rate of 8% per annum and payable at the rate of $500 per month. The negotiations commenced around Christmas of 1976 and continued through April 1, 1977, at which time the closing occurred and the documents were executed. The documents were drafted by defendant Gordon Yowell, who was a licensed real estate broker. When asked by…