Ford v. Scott

BEATTY, Justice.

Appeal by the plaintiff, Troy E. Ford, from a judgment for the defendant, Charles R. Scott, in plaintiff’s action for breach of contract. The evidence was presented ore tenus. We affirm.

Scott was the owner of all of the stock of the B & S Trenching and Excavating Company, Inc. (B & S). B & S submitted a successful bid on a waterline contract with a third party, but later B & S was unable to obtain bonding on the project. Scott, therefore, sold 76 percent of the B & S stock to John Thornton, and, in return, Thornton made a $150,000 cash bond and agreed to finance the project to…