Talbot v. Jansen

Jan R. Cromwell, Special Associate Justice.

This litigation arises from the January 1983 purchase of the corporate stock of “That Little Restaurant” by appellant Ben Talbot, Jr., with money loaned to him by appellant Madeline Talbot. The sellers were John C. Smithers and appellees Thomas Jansen and Janet Honeycutt. In the contract of sale, Smithers represented the liabilities of the restaurant as being $26,104.35, when in fact they were $90,794.95. Ben Talbot, Jr., defaulted on his note to Madeline Talbot and in May 1983 a receiver for the restaurant was appointed at the request of Madeline…