Baring Industries, Inc. v. Rayglo, Inc.

Defendant-appellant seeks review of a final judgment in favor of plaintiff in the amount of $25,000 entered pursuant to a jury verdict.

Plaintiff corporation, Rayglo, Inc., whose principal officers were Mr. and Mrs. Simpson, purchased a wholesale laundry and dry cleaning business known as Modern Cleaners for $12,000 in January 1971. Modern had been a profitable operation for 15 years and the Simpsons retained in their employ Modern’s plant manager who had operated the plant for the past 10 years. On February 16, 1971 plaintiff entered into a contract to purchase from defendant, Baring…