Kaufman v. Henry

McMILLIAN, Judge.

Defendants appeal from the judgment below rescinding a contract of sale between the parties on grounds of fraud and deception. The contract transferred the assets of plaintiff L. W. Transfer, Inc., a Missouri corporation, to defendants Henry and the Righter Trucking Company. L. W. Transfer’s board of directors purportedly made or ratified the sale. We affirm the judgment of the trial court.

L. W. Transfer was a commercial carrier whose only assets were operating authorities from regulatory agencies and trucking equipment. At the time of the contested contract of sale, the…