Clayton Plaza International Leasing Co. v. Sommer

GARY M. GAERTNER, Judge.

Appellants, Clayton Plaza International Leasing Company, Inc., Edward Willmer-ing and Dorothy Willmering, appeal an order of the Circuit Court of St. Louis County sustaining respondent’s, Leroy Sommer’s, motion for summary judgment. We reverse and remand.

On March 2, 1983, the appellants entered into an agreement to buy all of the outstanding common stock of Vulcan Manufacturing Company (Vulcan), from George Hilleman, Vulcan’s sole shareholder. As part of their payment for the shares, the appellants executed and delivered a $250,-000.00 “promissory note and collateral…