Loveday v. Cate

OPINION

SANDERS, Presiding Judge,

Eastern Section.

The Plaintiff has appealed from a judgment rescinding the sale of his hardware store and requiring restitution of the funds paid by the purchaser.

The Plaintiff-Appellant, Sam H. Love-day, Jr., and his brother, John Loveday, owned and operated a hardware store in downtown Maryville for some 30 years pri- or to its sale in 1987 which is the underlying cause of this litigation. Sam and John each owned a 50% interest in the business. They operated as a proprietorship until 1982 when they incorporated the business under the name of Loveday Hardware,…