Advance Me, Inc. v. Catfish Grille, Inc.

In October, 2002, plaintiff Advance Me, Inc. (“Advance”) contracted with defendant Catfish Grille, Inc. (“Catfish”), a restaurant, to pay $9,500.00 in exchange for a twenty (20%) percent interest in future Catfish credit card receivables, up to a maximum payment of $12,850.00. Defendant Anthony Russo (“Russo”), the co-owner of Catfish at the time the parties contracted, executed the “merchant agreement” on behalf of the corporation and also gave his personal written guaranty.

Alleging that it had fully performed its contractual obligations by paying $9,500.00 to Catfish, Advance brought this…