Poleo v. Grandview Equities, Ltd.

OPINION

KLEINSCHMIDT, Judge.

Grandview Equities appeals from a default judgment entered against it as a sanction for failure to comply with an order for production of documents.

The Poleos purchased a business from Grandview known as The Aquarium. The purchase price was $95,000, with a $23,000 down payment. Grandview provided the Poleos with a profit and loss statement and warranted it as a fair and accurate summary of the financial status of the business.

In late 1980 the Poleos brought a suit alleging that Grandview had induced the purchase by making fraudulent representations about the value…