Penmont Enterprises, Inc. v. Dysart

This is an appeal by Penmont Enterprises, Inc., and others from an adverse judgment of foreclosure and an order granting a new trial in a related action for damages.

The transaction which gave rise to this litigation was the sale in January of 1975 by Sally Dysart and Theodore Dysart of the corporate stock of two corporations (Dysart’s Pool & Patio World, Inc., and Dysart’s Swimming Pool Service, Inc.) to Pen-mont Enterprises, Inc., for a price of $440,-000. The sale contract provided for a $50,-000 down payment and for the balance to be evidenced by two promissory notes, one for $301,750…