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Stamford, Conn.

The plaintiff in this action was the owner of a security/alarm company who was represented by the defendant in conjunction with the sale of the plaintiff’s company. Following the sale, the plaintiff brought the subject action against his attorney, alleging that he was not properly advised with regard to a particular provision contained in the purchase and sale agreement, providing that any funds collected for services not yet rendered would be charged against him in a post-closing audit. The plaintiff contended that as a result, he was subsequently forced to pay the purchaser monies previously collected from customers for services which had not been rendered to those customer by the time of the sale of the company, resulting in the plaintiff being deprived of receiving the full purchase price for the business. The defendant countered that the plaintiff was a highly sophisticated businessman who knew or should have known the meaning of the provision in question, and did not require that his attorney or accountant define or explain the meaning of the clause. Haimes & Co. vs. Spitzer, et al. Case no. CV85-________; Attorney for defendant: Duncan Hume of Stamford, Ct.

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