Shingledecker v. Spencer

YARRUT, Judge.

Plaintiffs are Kenneth W. Shingledecker, liis wife, Ruth N. Shingledecker, and her brother, James H. Neal. Mrs. Shingledecker was employed as manager of a beauty college operated by Linda Brooks Corporation .at the time she negotiated with Defendants, •the sole shareholders, L. Clay Spencer, Gilbert J. Fortier, Jr., and Rosemarie B. Mee-han, for the sale of all of the capital stock of the Corporation. On February 28, 1963, .a purchase agreement was executed in which Plaintiffs agreed to pay Defendants $10,000; $5,000 in cash and the balance in 30 days. To secure the deferred…