Kirchhoff v. Rosen

Plaintiffs Robert Kirchhoff, Carl Kirchhoff, Wayde Kirchhoff, and All-Foam Industries, Inc. (Kirchhoffs), filed this action in chancery claiming fraudulent inducement and sought rescission of a written contract between the parties entitled “Convertible Subordinated Note Agreement” and money damages against the defendants, Morton I. Rosen, James T. Farrell, Valee Foam Plastics, Inc., and Polyfoam Packers, Inc. The defendants defended and contended, among other things, that the convertible subordinated note agreement had been rescinded by mutual consent of the parties prior to this suit. In…