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TALB, INC. v. DOT DOT CORP.

88-1267, 88-1339.

559 So.2d 1054 (1990)

TALB, INC. v. DOT DOT CORPORATION. DOT DOT CORPORATION v. TALB, INC.

Supreme Court of Alabama.

March 9, 1990.

Attorney(s) appearing for the Case

J. Don Foster and Thack H. Dyson of Foster, Dyson & Curenton, Foley, for appellant/cross-appellee.

James B. Newman and Joseph P.H. Babington of Coale, Helmsing, Lyons, Sims & Leach, Mobile, for appellee/cross-appellant.

SHORES, Justice.

These appeals involve a suit on a promissory note and a counterclaim for fraud, which arose from a series of real estate transactions concerning a tract of land located on the Intra-Coastal Canal Waterway ("the canal property") near Gulf Shores, Alabama. On November 13, 1981, Frank J. Caron, a real estate investor, purchased the canal property for $617,000. Caron subsequently sold a portion of the property to Talb, Inc., in 1985 for $400,000. Talb...

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