Levenson v. Mobley

OPINION

RANSOM, Justice.

Levenson brought a breach of contract suit against five business associates (defendants). A bench trial was held in which judgment was rendered against defendants in the amount of $50,119 plus costs and prejudgment interest. On appeal, defendants challenge the judgment and the trial court’s denial of a motion for new trial. We affirm.

Levenson and defendants were shareholders in approximately twenty-six entities, one of which was North American Land Developments, Inc., (NALD), a sub-chapter S corporation. The effect of its tax status meant that undistributed profits and…