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SCHWAB U.S.A. v. PERPETUAL MACHINE CO.

No. A99A1612.

525 S.E.2d 719 (1999)

241 Ga. App. 13

SCHWAB U.S.A., INC. et al. v. PERPETUAL MACHINE COMPANY.

Court of Appeals of Georgia.

November 18, 1999.

Attorney(s) appearing for the Case

R. Leslie Waycaster, Jr., Dalton, for appellants.

Kinney, Kemp, Sponcler, Joiner & Tharpe, L. Hugh Kemp, Dalton, for appellee.

MILLER, Judge.

Perpetual Machine Company manufactured, assembled, and shipped carpet equipment for customers of Schwab U.S.A., Inc. ("Schwab-USA"). Because Perpetual Machine was not receiving payments, it met with representatives of Schwab Maschinenbau GmbH & Company ("Schwab-Germany") and Schwab-USA and reached an oral settlement agreement, which provided that Perpetual Machine would reduce the indebtedness to $450,000 and forfeit all accrued and future interest...

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