Matthews v. Prince

JOHNSON, Judge.

Plaintiffs commenced this civil action on 25 May 1984 to enforce collection of sums due under a promissory note.

On or about 31 October 1983, defendant executed and had delivered to plaintiffs a promissory note in the amount of twenty-thousand dollars ($20,000.00) with interest thereon at the rate of ten percent (10%) per annum. The note was executed pursuant to a written contract for the sale of all plaintiffs’ stock in a business known as Water Distillers, Inc., as well as an exclusive franchise agreement and distributorship rights.

Water Distillers, Inc., was engaged in the…