A Beaumont man claims he has incurred financial and credit problems after a San Antonio couple refused to take steps to remove his name from a $25,000 loan.
Phillip Grice filed a lawsuit March 24 in Jefferson County District Court against Jason and Emily Bowden.
Grice claims he executed a written agreement with Jason Bowden on Aug. 14, 2008. Under the agreement, Grice agreed to sell to Jason Bowden shares of stock in Sam's Side Pocket Inc., according to the complaint.
In addition, Jason Bowden agreed to assume and take in his own name a loan through Texas State Bank to Grice for $25,000, the suit states. Emily Bowden provided money for the purchase of the shares and participated in the contract, the complaint says.
However, after executing the agreement, the Bowdens failed to assume the loan in their names, Grice claims. Despite a notice Grice sent to the couple informing them of their failure to perform their half of the contract, the couple still has refused to comply, according to the complaint.
"As a result of Defendant's failure and refusal to assume the Texas State Bank loan, Plaintiff has incurred financial loss due to the fact of personally having to continue making payments on the Texas State Bank loan," the suit states. "Because of Defendants breach, Plaintiff has suffered injury to his credit status which has cause Plaintiff to surrender his new business opportunity losses."
In his complaint, Grice seeks general damages of $50,000 and damages for lost financial and business opportunities, plus pre- and post-judgment interest, attorneys' fees, costs and other relief the court deems just.
Travis W. Evans of Bellaire will be representing him.
The case has been assigned to Judge Bob Wortham, 58th District Court.
Jefferson County District Court case number: A186-381.