Facts

Transcomp Systems Inc. entered into an asset purchase agreement with P.C. Scale Inc. (PCSI) on Nov. 1, 2006, whereby PCSI agreed to buy Transcomp's assets for $2,254,165 in 24 monthly installments. PCSI executed a promissory note in favor of Transcomp pursuant to the agreement, which was guaranteed by Donald Tefft.

PLAINTIFF'S CONTENTIONS:
Transcomp filed suit against PCSI and Tefft, alleging breach of the agreement and promissory note. Transcomp contended that PCSI failed to make the payment due under the note, which provided that in the event of a default, payment of the entire unpaid balance was due.

DEFENDANT'S CONTENTIONS:
PCSI contended that it substantially complied with the agreement, alleging that Transcomp breached the agreement, as well as committed fraud and negligent misrepresentation regarding its financials.

Damages

Transcomp sought $313,665 in principal damages as well as interest.

Result

The court awarded Transcomp $315,364.