Renault, Inc. v. Marble

PICKETT, Circuit Judge.

This action arose out of the sale of all of the capital stock of Motor Imports Corporation, a Colorado corporation, by the appellee-defendants (Marble Group) to the appellant-plaintiff, Renault, Inc. (Renault). Renault, in its complaint, alleges that the Marble Group agreed in writing to indemnify it against any loss or expense which might be incurred if a balance sheet of May 31, 1959 did not accurately reflect the financial condition of Motor Imports, Inc. on that date. It is further alleged that the balance sheet did not include as a liability of the corporation the…