Esseoc Cement Corp. vs. PLC

ESSROC Cement Corp. ("ESSROC") brought this action against PLC, Inc., formerly known as Paty Lumber Company, seeking judgment in amount of $112,551.43, plus service charges and attorney's fees, as payment for cement and masonry materials which it sold to PLC. After ESSROC filed a motion for summary judgment, the parties reached a settlement agreement whereby PLC agreed to pay ESSROC two installments of $25,000.00. PLC paid the first installment under the agreement but not the second. This prompted ESSROC to file a motion to rescind the settlement agreement on grounds of fraudulent misrepresentation. The Trial Court granted ESSROC rescission of the settlement agreement, and granted summary judgment in ESSROC's favor. We affirm the judgment of the Trial Court.