Envo, Inc. v. Walters

Defendants presented themselves as president and vice president of ESG, Inc. in order to purchase assets from the predecessor of Plaintiff, Envo, Inc. Unfortunately, after the assets had been transferred, Defendants learned that ESG did not exist. Defendants kept the assets, however, and used them to run a business under the name Environmental Solutions Group, Inc. Defendants subsequently refused to pay Envo for the assets. Envo filed this claim under the doctrine of promissory estoppel and other legal and equitable doctrines, claiming it was damaged by Defendants' action. The Chancery Court found (1) Defendants and Environmental Solutions Group were liable to Envo under the doctrine of promissory estoppel; and (2) Envo was entitled to damages in an amount equal to the purchase price of the assets, plus pre-judgment interest, post-judgment interest, and costs. View "Envo, Inc. v. Walters" on Justia Law