In re the Arbitration between Grinnell Corp. & American District Telegraph Co.

Judgment entered February 14, 1969, granting motion to compel arbitration and denying cross motion for a stay, affirmed, with $30 costs and disbursements to respondent. The “ Commutation Agreement ” under scrutiny provided: “ In default of agreement as to the amount of the monetary value of any such consideration, such amount will be finally determined 'by arbitration in New York in accordance with the Commercial Arbitration Rules of the American Arbitration Association.” In the implementation of the “ Commutation Agreement ”, a previously honored arrangement between the parties known as the…