Fritts v. Selvais

GREENE, Judge.

Defendant appeals from a judgment filed 20 March 1990, awarding plaintiff a deficiency judgment in the amount of $40,585.

In 1983, plaintiff, Carlton Fritts, sold to defendant, George Selvais, the primary assets of plaintiff’s diesel engine repair and reconstruction business. Defendant incorporated and operated the business under the name of Beltech Enterprises, Inc. (Beltech).

In connection with the sale of the assets, plaintiff and defendant executed a Closing Agreement, an Employment Agreement and a Lease Agreement under which defendant agreed to lease plaintiffs building for…