Martin v. Blossman

CHIASSON, Judge.

Plaintiffs, Frank Martin and Charles Hall, filed this civil action against defendants, A.R. Blossman, Jr. and Ernest K. Hall, alleging breach of warranty under an agreement to purchase the capital stock of Successful Distributors, Inc., a Louisiana corporation which owned two discount stores. In the agreement, defendants (sellers) warranted to plaintiffs (buyers) that the total liabilities of the corporation would not exceed the amount shown on the balance sheet of the corporation by more than $6,000, plus certain income tax liability and after adjustment of accounts payable…