Frank B. Hall & Co. v. Payseur

Plaintiffs-appellees, Frank B. Hall & Co., Inc. (Hall), a Delaware corporation, and Frank B. Hall & Co. of Illinois, Inc. (Hall of Illinois), an Illinois corporation, a subsidiary of Hall, filed this action in the circuit court of Cook County on June 26, 1978, for declaratory judgment, injunctive relief, and damages arising out of a covenant not to compete signed by plaintiffs’ former officer-employee, James C. Payseur, defendant-appellant. Bayly, Martin & Fay of Illinois, Inc. (Bayly of Illinois), an Illinois corporation, owned 50 percent by Payseur and 50 percent by Bayly, Martin & Fay…