BAYWOOD FURNITURE MART v. KENNEDY

No. 73-680.

295 So.2d 350 (1974)

BAYWOOD FURNITURE MART, INC., et al., Appellants, v. Lee KENNEDY, Appellee.

District Court of Appeal of Florida, Second District.

Rehearing Denied June 28, 1974.


Attorney(s) appearing for the Case

Richard T. Bennison of MacKenzie, Castagna, Bennison & Gardner, Clearwater, for appellants.

Douglas J. Loeffler of Fox, Burton, George & Loeffler, Clearwater, for appellee.


GRIMES, Judge.

This is an appeal from a final judgment of mortgage foreclosure.

By contract dated January 2, 1970, appellant, Alstan Bay Corp., agreed to purchase from appellee, Lee Kennedy, all of the outstanding stock of Baywood Furniture Mart, Inc. (hereafter called company). The contract noted that the purchase price of $153,000.00 was predicated upon a net worth of $110,129.00 as shown by the October 31, 1969, balance sheet of the company and an additional...

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