Gallagher's Stud, Inc. v. Fishman
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Mahoney, P. J.
This action for breach of contract arises out of a dispute concerning the management of a thoroughbred race horse named "Lothario”. Defendant and Harold Burgher purchased *52the stallion in 1975 for $60,000.1 In 1979, defendant and Burgher sold a one-half interest in Lothario to Gallagher’s Farm, Inc. Thereafter, on May 16, 1979, the three owners (defendant, Burgher and Gallagher’s Farm) entered into a syndicate agreement which set forth the owners’ rights and obligations with respect to the breeding, care and management of Lothario.
Pursuant to the agreement,…
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