Marsano, Inc. was engaged in the manufacture and sale of a product called the Beauty Mate Comb. Leonard Marsano and his wife owned 52.5% of the capital stock, and Livingston (P) owned about 47.5%. They all decided to sell their shares and put an ad in the Wall Street Journal. Krown Chemical Manufacturing, Inc. negotiated and signed a contract on December 22, 1967, for the sale of Marsano, Inc. Marsano was to get $31,000 and 2,000 shares of Krown capital stock. Krown agreed to pay P $46,000 for his shares 120 days after January 3, 1968. Krown failed to make that payment and P sued Krown and Marsano (Ds). The trial court found that the sellers had made misrepresentations. Ps were denied specific performance but were awarded $46,000 as damages. The court of appeals affirmed. This appeal resulted.

This section contains the nature of the case and procedural background.

The legal issues presented in this case will be displayed here.

The court's holding and decision will be displayed here.

Legal analysis from Dean's Law Dictionary will be displayed here.