Jones v. CPR Div., Upjohn Co.

OPINION

NELSON, Judge.

Prior to February 21,1972, appellees, Filbert and Eloise Terrazas (Terrazas), were the majority shareholders (74%) and managing officers of Terri-Flex Products, Inc. (Terri-Flex). Terri-Flex was engaged essentially in the sale and installation of roofing and insulation systems, and roofing components, primarily foam. Their principal material supplier was the other appellee in this case, CPR Division of the Upjohn Company (CPR), with whom they had traded for several years on an open account, and to whom the sum of $100,000 was owed for materials.

On February 21, 1972, a…