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THIRD WORLD v. BREWMASTERS OF AUGUSTA

59946.

155 Ga. App. 352 (1980)

270 S.E.2d 891

THIRD WORLD, LTD. NO. II, INC. et al. v. BREWMASTERS OF AUGUSTA, INC. et al.

Court of Appeals of Georgia.

Decided July 15, 1980.

Attorney(s) appearing for the Case

Kenneth R. Chance, for appellants.

Patrick J. Rice, David B. Bell, for appellees.

BIRDSONG, Judge.

Under a lease purchase agreement, effective January 30, 1976, appellants Third World Ltd. No. II, Inc. ("Third World") and James Brown took possession of a former restaurant owned by the appellees ("Brewmasters"), and converted it to a nightclub business. The agreement provided for monthly lease payments of $6,175 for twenty months and obligated Third World to then purchase the property for $370,445 less lease payments. As security for the agreement...

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