Summary
affirming lower court's holding that the limiting language on separate checks for single shares of stock was release of liability to the purchaser only for the share purchased and not the entire disputed claim
Summary of this case from Occ. Chem. v. Environmental LinersOpinion
May 27, 1959.
June 30, 1959.
Contracts — Contract to buy stock — Terms — Construction.
In this action of assumpsit upon a case stated in which it appeared that the plaintiff and the two defendants entered into a written agreement by the terms of which plaintiff sold to each of the defendants 333 shares of his stock in a corporation and each defendant agreed to pay him $9500 therefor in installments and defaulted in such payments; and defendants sought to escape liability for the unpaid balances because of action taken under certain option provisions in the written agreement and because checks sent by defendants to plaintiff contained a notation "Accepted in full release and settlement of any and all claims . . ." and plaintiff endorsed and cashed the checks, it was Held that the court below had properly entered judgment in favor of the plaintiff and against the defendants for the entire unpaid balance due on the purchase price of the stock.
Before JONES, C. J., BELL, MUSMANNO, JONES, COHEN, BOK and McBRIDE, JJ.
Appeals, Nos. 146 and 147, Jan. T., 1959, from judgment of Court of Common Pleas of Berks County, Sept. T., 1958, Nos. 428 and 429, in case of Quentin C. Sternbergh v. Henry W. Fehling et al. Judgment affirmed.
Same case in court below: 17 Pa. D. C.2d 390.
Assumpsit on case stated.
Judgment entered for plaintiff and against defendants, opinion by HESS, J. Defendants appealed.
Frederick Edenharter, with him Ellis Brodstein, for appellants.
Charles H. Weidner, with him William R. Lessig, Jr., and Stevens Lee, for appellee.
The judgment of the court below is affirmed on the opinion of Judge HESS, 17 Pa. D. C.2d 390.