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FLOOR v. SCHAFFHAUSEN CORP.

Gen. No. 64-13.

49 Ill. App.2d 97 (1964)

199 N.E.2d 434

Marjorie Floor, as Executor of the Last Will and Testament of Eric Floor, Deceased, Ray C. Landstrom, et al., Plaintiffs-Appellants, v. Schaffhausen Corporation, a New York Corporation, et al., Defendants-Appellees.

Appellate Court of Illinois — Third District.

June 9, 1964.

Attorney(s) appearing for the Case

Berry & O'Conor, of Streator, for appellants.

Rothschild, Hart, Stevens & Barry, of Chicago, and Hupp and Irion, of Ottawa (William G. Myers and Frederick W. Irion, of counsel), for appellee, Schaffhausen Corp.

SCHEINEMAN, J.

This is an appeal from a summary judgment entered against plaintiffs which terminated their suit against the defendant, Schaffhausen Corporation. The facts are as follows:

The plaintiffs owned all the stock of a certain corporation which was having financial difficulties. They entered into a contract to sell their stock to the defendant, referred to as the purchaser, and the purchaser agreed to pay $375,000 within a term of 10 years. If the...

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