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LAMB v. BARBOUR

188 N.J. Super. 6 (1982)

455 A.2d 1122

BARRY J. LAMB AND CANDICE E. LAMB, PLAINTIFFS-RESPONDENTS, v. RICHARD L. BARBOUR, DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided December 9, 1982.

Attorney(s) appearing for the Case

Richard A. Grossman argued the cause for appellant (Novins, Farley, Grossman & York, attorneys; Herbert Kruttschnitt III on the brief).

Patrick F. McAndrew argued the cause for respondents (John J. Pribish, attorney).

Before Judges MATTHEWS, ANTELL and FRANCIS.

The opinion of the court was delivered by ANTELL, J.A.D.

On July 15, 1982 plaintiffs husband and wife acquired from Harry Stoller, Murray Stoller and Burt Swersky the capital stock of Middlesex Baking Co., Inc. and Stoller-Carteret Baking Co., Inc. The terms of sale called for payment of $120,000 for the stock, $12,000 at closing and the balance of $108,000 to be paid under a promissory note. Plaintiffs also agreed to assume the obligations and liabilities of the...

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