Noble v. Stuart

AYRES, Judge.

This is an action for the specific performance of a contract, or, in the alternative, for the forfeiture of deposits allegedly made as earnest money.

As a basis for this action, plaintiff alleges that, pursuant to a verbal agreement entered into between him and the defendant, the defendant contracted to purchase from plaintiff the business of The Florentine Club, Inc., or all of the capital stock of said corporation. The alleged contract price was $50,000.00, of which $10,500.00 was payable in cash and the balance was to be secured by a chattel mortgage on all the corporation’s…