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BELANGER v. SEAY & THOMAS, INC.

Gen. No. 48,116.

28 Ill. App.2d 266 (1960)

171 N.E.2d 418

James W. Belanger, Wendla K. Osterberg, Inez M. Pond, May C. Cleary, and Bert V. Robins, Appellees, v. Seay & Thomas, Inc., an Illinois Corporation, Appellant.

Appellate Court of Illinois — First District, Second Division.

December 20, 1960.

Attorney(s) appearing for the Case

Fisher, Hassen & Fisher, of Chicago (Joseph Fisher and Samuel R. Hassen, of counsel) for appellant.

MacLeish, Spray, Price & Underwood, of Chicago (Joseph W. Townsend and Claude E. Carr, Jr., of counsel) for appellees.

MR. JUSTICE FRIEND delivered the opinion of the court.

On February 21, 1958 Gordon Strong and Company (Strong), engaged in the real estate management business, entered into a contract for the sale to defendant of all its capital stock for its net worth as determined by a balance sheet of the corporation, plus $30,000.00. By the terms of the contract of sale, defendant became the sole owner of Strong with the right to use the name Gordon Strong and Company, and acquired...

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