Keller Industries, Inc. v. James A. Holden

In March, 1970, defendant Holden entered into an agreement with plaintiff Keller Industries, Inc., whereby Holden would sell Keller’s products in the Austin, Texas, area. Holden purchased the inventory and other physical assets of the existing Keller operation in Austin and executed a promissory note for $34,-806.64 in exchange therefor. Unhappily, plaintiff and defendant experienced considerable difficulties in their new business relationship, and it was soon agreed that Holden’s distributorship would be terminated. At the time of this decision, Holden owned certain inventory and Accounts…