Goldgar v. Galbraith

Sognier, Judge.

Appellee (Galbraith) sought to recover damages from appellant (Goldgar) arising from appellant’s breach of a sales contract. Goldgar agreed to purchase the majority of Galbraith’s stock in Galbraith, Hoffman & Rogers, Inc. (GH&R), a New York advertising agency. The contract provided that Goldgar pay $10,000 cash to Galbraith for the GH&R stock, plus transfer 10,000 shares of stock in another corporation to Galbraith, said stock to be repurchased by Gold-gar upon demand by Galbraith in one year for $10,000. Contemporaneously an employment contract was executed whereby GH&R, with…