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Contracts Keyed to Ayres
In re Carter’s Claim
Citation:390 Pa. 365.
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
Plaintiff and defendant entered into negotiations to buy the defendant’s company and subsidiaries. On the last day of negotiations the parties entered into a written agreement under which the plaintiff would buy all the stock of defendant and its subsidiaries. Out of the purchase price, a certain amount was set aside in escrow to indemnify the plaintiff against the liabilities of the defendant. The plaintiff has presented a claim under the escrow fund for a $60,000 as a liability of the defendant, claiming that the financial condition on the day of purchase was less favorable than the financial condition in the reflected into the defendant’s latest financial statement. The defendant disputed this claim.
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