Logue v. Allen Laundry, Inc.

WIEAND, J.,

This action was commenced as an action in assumpsit to recover installment payments due and to become due under the terms of two stock purchase agreements. Following a pretrial conference it became apparent and counsel agreed that the only issue requiring determination pertained to the meaning of the term “accounts receivable” as used in the purchase agreements. If the court resolved this dispute, it was agreed the parties themselves could apply the formula provided by the agreements in order to determine the amounts of future payments. The action, therefore, proceeded as a…