Seventeen Seventy-Six Peachtree Corp. v. Miller

A brief summary of the facts underlying this action and the legal procedures used by these parties is necessary for an understanding of this case. On July 22, 1966, Miller acquired the Greyhound Building in downtown Milwaukee from Peachtree. There were three documents involved in the acquisition: A contract of sale for the building, the promissory note for $50,000, and an assumption and indemnification agreement. The contract of sale between Miller and Peachtree required Miller to give Peachtree the $50,000 note and assume and agree to pay scheduled liabilities for the construction of the…