Lamons v. Chamberlain

CRAWFORD, Judge.

This case involves a contract for the sale of a business. Defendants-sellers appeal from the judgment of the trial court rescinding the contract and awarding plaintiff-buyer $39,-800.00.

Defendants, Ronnie and Barbara Chamberlain (Chamberlains), owned a video rental store in Knoxville, Tennessee. Prior to August 18, 1989, plaintiff, Robbie Lamons (La-mons), visited the store and conversations ensued regarding the possibility of Lamons buying the store from the Chamberlains. On August 18, 1989, the parties signed and executed a Buy and Sell Agreement and promissory note. Lamons…