Facts

On May 24, 2005, defendants Albert Agadjanian and his company, Carloops Inc., placed the Carloops business, a car wash and lube/detail facility for sale, on the real estate market. The eventual purchaser was plaintiff Shahram Azordegan and his company, One Source Global Tech Inc.

On March 13, 2006, plaintiffs and defendants entered into a purchase contract for the purchase of the "Business Interest" for the total sum of $1.9 million and a separate lease agreement for the real property for the next 30 years.

The parties disputed the nature and extent of the interest that was the subject of the purchase and sale agreement, including the non-disclosure of a construction project that resulted in the street closure of 322 N. Sunset Ave., La Puente, California, and whether the sale of the business included all leases and the right to re-lease the property after termination of the existing leases.

Plaintiffs filed suit for breach of written contracts, seeking damages.

DEFENDANTS' CONTENTIONS:
Defendants claimed that they provided full disclosure and the sale of the business included the existing leases, but did not give the buyer the right to re-lease the property to new tenants.

Result

The jury returned a verdict for plaintiffs, awarding $1,310,000 in damages.

Other Information

FILING DATE: Feb. 5, 2007.

Deliberation

one hour

Length

eight days