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RESORT CAR RENTAL SYS., INC. v. CHUCK RUWART CHEV., INC.

No. 74-1665.

519 F.2d 317 (1975)

RESORT CAR RENTAL SYSTEM, INC., Plaintiff-Appellant, v. CHUCK RUWART CHEVROLET, INC., et al., Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

Decided July 10, 1975.

Attorney(s) appearing for the Case

Edwin S. Kahn, Raul N. Rodriguez, Christopher N. Sommer, Denver, Colo., for plaintiff-appellant.

Richard S. Hays, John S. McGuire, Denver, Colo., for defendants-appellees.

Before MURRAH, HILL and DOYLE, Circuit Judges.

MURRAH, Circuit Judge.

Resort Car Rental System, Inc., a Delaware corporation, contracted for the stock-for-stock purchase of Metropolitan Leasing Inc., from its owners, Ruwart Chevrolet, a Colorado corporation, and certain named stockholders, residents of Colorado and Louisiana (the Sellers). Following the consummation of the purchase, Metropolitan failed to collect a substantial amount of its accounts receivable, lost its previous financing source, and went out...

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