Rem Noble and Brandt Noble, Individually, and d/b/a/ Noble, Inc. v. Tom Pease, Individually, and Corporate Copy, Inc.

This case is about the sale of a business. The owner of a copy machine business sold the assets of the
business to a competitor. The buyer purchased the company through a promissory note that required monthly payments. After the sale, the seller and the seller’s son became employees of the buyer.  However, while employed by the buyer, the seller continued to deal in copy machines on the side.  The seller voluntarily left employment, and his son was fired. After the buyer learned of the seller’s side dealings in copiers, the buyer stopped making payments on the promissory note. The seller sued the buyer for failing to make the agreed upon payments. The buyer counter-sued for breach of contract. After a trial, the trial court rescinded the purchase agreement. We reverse, finding that rescission was not an appropriate remedy in this case, and remand for a determination of the appropriate damages.