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ALLEN v. COATES

No. 94-505.

661 So.2d 879 (1995)

Aquilla J. ALLEN and Virginia C. Allen, Appellants, v. Richard COATES, an Individual, a/k/a Richard A. Coates, Jr., Appellee.

District Court of Appeal of Florida, First District.

October 10, 1995.

Attorney(s) appearing for the Case

James G. Mahorner, Jacksonville Beach, for appellants.

Samuel S. Jacobson of Datz, Jacobson, Lembcke & Garfinkel, Jacksonville, for appellee.

VAN NORTWICK, Judge.

Aquilla J. Allen and Virginia C. Allen appeal a final summary judgment in favor of appellee, Richard Coates, on the Allens' complaint which sought judgment on promissory notes that were made by Coates as the purchase price for his acquisition from the Allens of the capital stock of Allen's Electrical Center, Inc. (AEC). Following default under the notes by Coates, the Allens reassumed control and operation of AEC, the capital stock of which secured...

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