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CONTINENTAL TELEVISION CORP. v. CASTER

Gen. No. 11,647.

42 Ill. App.2d 122 (1963)

191 N.E.2d 607

Continental Television Corporation, et al., Plaintiffs-Appellants, v. Josephine B. Caster, as Executrix of the Last Will and Testament of Louis E. Caster, Deceased, et al., Defendants-Appellees.

Appellate Court of Illinois — Second District, First Division.

Rehearing denied July 27, 1963.

Attorney(s) appearing for the Case

Sears, Streit, Tyler & Dryer, of Chicago, and Brown, Connolly & Paddock, of Rockford (Barnabas F. Sears, David Connolly, Robert J. Oliver and Gerald M. Sheridan, of counsel), for appellants.

Pedderson, Menzimer & Conde, of Rockford, for appellees.

SMITH, J.

Bob Hope, Albert Zugsmith, Arthur Hogan and Ashley Robison negotiated for the purchase of all the capital stock of Greater Rockford Television, Inc. for $2,850,000. Plaintiff, Continental Television Corporation, wholly owned by Hope and his associates and apparently organized for the purpose of this transaction, deposited $20,000 as earnest money, agreed to pay an additional $480,000 on the closing date of the contract and the remainder in installments thereafter...

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