Landreth Lumber has filed a breach of contract suit against Stormer Excavating, alleging they failed to pay for products purchased.
Represented by William Asa of Edwardsville, Landreth alleges Stormer entered into a payment agreement on Dec. 5, 2007 where they agreed to pay $10,000, plus $2,500 in collection costs.
According to court documents, Stormer agreed to make monthly payments of $500 on the fifth of every month until the debt was paid in full. If they were ever to default, Landreth would be entitled to seek reasonable attorney's fees and costs.
Landreth alleges Stormer did default and now owes them $11,500, plus court costs and attorney's fees.
In addition, Landreth claims they are entitled to prejudgment interest on the unpaid sums at the rate of five percent per annum.
The case is awaiting mandatory arbitration.
08 AR 525