Steinthal v. Cohn

Defendant moves for leave to serve an amended answer, and plaintiffs cross-move for summary judgment.

Plaintiffs seek recovery of $552,200 damages pursuant to an agreement, allegedly breached by defendant, wherein defendant agreed to purchase from them certain stock of the Lionel Corporation.

Plaintiffs, owners of a manufacturing concern, and Lionel negotiated for the purchase of the firm by Lionel. Lionel was then controlled by the individual defendant. The plaintiffs valued their business at $800,000; they agreed to sell but not without assurance that they would receive $800,000; the…