Agathangelides v. Shaw

DURHAM, Justice:

Defendants appeal from an order granting plaintiffs partial summary judgment. We reverse and remand.

Plaintiffs sold a sprinkler installation business to defendants. The terms of the sale were set out in a sales agreement. The purchase was financed through a promissory note executed by defendants’ corporation.

When defendants failed to make the second and subsequent payments, plaintiffs sued to collect the amount owed under the note and attorney fees as provided for in the note. Defendants answered, raising failure of consideration as an affirmative defense. Defendants also…