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RAJAY CORPORATION v. TEXSTAR CORPORATION

No. 30673.

439 F.2d 1200 (1971)

RAJAY CORPORATION, Plaintiff-Appellant, v. The TEXSTAR CORPORATION, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

March 31, 1971.

Attorney(s) appearing for the Case

Gerald W. Moss, William H. Cooper, Ben T. Warder, Jr., Carter, Gallagher, Jones & Magee, Dallas, Tex., for appellant.

J. Burleson Smith, San Antonio, Tex., John L. Hauer, Dallas, Tex., Cox, Smith, Smith, Hale & Guenther, San Antonio, Tex., Walker, Bishop & Larimore, Fort Worth, Tex., Akin, Gump, Strauss, Hauer & Feld, Dallas, Tex., for appellee.

Before COLEMAN, SIMPSON and RONEY, Circuit Judges.

PER CURIAM:

By contract dated November 1, 1968, defendant-appellee Texstar Corporation (Texstar) purchased substantially all of the assets of plaintiff-appellant Rajay Corporation (Rajay). Under the contract Texstar paid to Rajay $610,837.00 in cash upon closing. The contract called for an additional payment to Rajay a year later of:

"a sum equal to 2.5 times the amount, if any, by which the annualized adjusted pre-tax net earnings to be derived from the...

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