Hanks v. GAB Business Services, Inc.

BOYD, Justice.

This case arises from a sales contract between appellant Don K. Hanks, d/b/a Hanks Claims Service (hereinafter referred to as “Seller”) and appellee GAB Business Services, Inc. (hereinafter referred to as “Buyer”). Buyer purchased the insurance adjustment business of Seller for a total consideration of $95,000.00; $28,000.00 of the consideration was payable upon closing, $33,500.00 due one year from the date of closing, and $33,500.00 payable two years from closing. The contract contained a non-competition clause providing that Seller would not compete with Buyer in any similar…