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MAGRANN v. EPES

No. 94-00304.

646 So.2d 760 (1994)

Arthur T. MAGRANN, III, Appellant, v. Freeman EPES and Jane Epes, husband and wife, Appellees.

District Court of Appeal of Florida, Second District.

Rehearing Denied December 14, 1994.

Attorney(s) appearing for the Case

Daniel Joy of Joy & Moran, Sarasota, for appellant.

Daniel A. Carlton, Sarasota, for appellees.

PATTERSON, Judge.

Arthur Magrann appeals from a final judgment for $136,212.70 in favor of the Epes, resulting from a suit on a promissory note. We reverse.

Magrann and Freeman Epes are physicians. In 1984, Magrann purchased Epes' practice for $65,000. Of that amount, Magrann borrowed $55,000 from the Pan American Bank, now known as Sun Bank. The parties allocated $35,000 of the purchase price for furniture, fixtures...

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