OLIVETTI CORP. v. AMES BUSINESS SYSTEMS

No. 418PA86.

356 S.E.2d 578 (1987)

319 N.C. 534

OLIVETTI CORPORATION v. AMES BUSINESS SYSTEMS, INC.

Supreme Court of North Carolina.

June 2, 1987.


Attorney(s) appearing for the Case

Poyner & Spruill by J. Phil Carlton and Mary Beth Forsyth, Raleigh and Weinstein, Sturges, Odom, Groves, Bigger, Jonas & Campbell by Hugh B. Campbell, Jr., Charlotte, for plaintiff-appellant.

Joe C. Young, Charlotte, for defendant-appellee.

Lacy H. Thornburg, Atty. Gen. by John F. Maddrey, Asst. Atty. Gen., for the State, amicus curiae.


MEYER, Justice.

In April 1978, defendant Ames Business Systems, Inc. (hereinafter "Ames"), was incorporated by James H. Nicholson, formerly a salesman of accounting machines for Olivetti Corporation, and Wade M. Perry, previously an owner and operator of a small company that sold business forms and supplies. Ames was initially capitalized by Nicholson and four other investors, including Perry's wife and mother-in-law, for $45,000; Perry did not contribute any capital...

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