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PAUL v. CHROMALYTICS CORPORATION

343 A.2d 622 (1975)

Donald G. PAUL, Plaintiff, v. CHROMALYTICS CORPORATION, a Delaware Corporation, and Chemalytics Corporation, a Pennsylvania Corporation, Defendants.

Superior Court of Delaware, New Castle.

July 22, 1975.

Attorney(s) appearing for the Case

Richard E. Poole, and Daniel F. Wolcott, Jr., Potter, Anderson & Corroon, Wilmington, for plaintiff.

N. Maxson Terry, Jr., Terry, Terry & Jackson, Dover, for defendant Chromalytics Corp.

Peter J. Walsh, and Alan S. Yoffie, Murdoch & Walsh, Wilmington, for Chemalytics Corp.

OPINION

CHRISTIE, Judge.

This action arises from an agreement entered into on February 1, 1973, for the purchase and sale of substantially all of the assets of Chemalytics Corporation to Spex Industries, Inc., for the price of $200,000. In another agreement executed on the same date, Spex agreed to employ Donald Paul, the president of Chemalytics, for a three-year period. Shortly before the closing, Spex transferred all of its rights in the purchase agreement...

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