PROCTOR TRUST CO. v. UPPER VALLEY PRESS, INC.

No. 210-78.

405 A.2d 1221 (1979)

PROCTOR TRUST COMPANY and Alfred R. Leblanc and Lyman Cousens, Counter-Defendants, v. UPPER VALLEY PRESS, INC., Charles F. Harris, Jr., and Margaret Carolyn Harris a/k/a Carolyn F. Harris and a/k/a Carol F. Harris.

Supreme Court of Vermont.

Entry Amended July 2, 1979.

Motion for Reargument Denied July 10, 1979.


Attorney(s) appearing for the Case

Crowley, Banse & Kenlan, Rutland, for plaintiff.

Stephen C. Walke, Jr., and Paterson, Gibson & Noble, Montpelier, for defendants.

Before BARNEY, C. J., and DALEY, LARROW, BILLINGS and HILL, JJ.


BILLINGS, Justice.

This mortgage foreclosure action arises out of the purchase and sale of a printing business in Bradford. The Proctor Trust Company (the Bank) owned and operated the press during the time it was searching for a buyer, a period of eight months. The defendants purchased the business, claiming to have relied on two statements and projections of income, one prepared by Lyman Cousens, a former vice president of the Bank, who had left its employ at the...

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