Dreyfuss Metal Co. v. Berg

Plaintiff, Dreyfuss Metal Company (Dreyfuss), brought an action for specific performance against defendants, Robert Berg and Wayne-Webster Trading Company, demanding that they perform their obligations under a “Memorandum of Understanding” in which Dreyfuss agreed to purchase defendants’ 50% interest in Dreyfuss and a one-half ownership interest in its Chicago building and land for $1,338,000. The dispute which delayed the closing and prompted this suit resulted from a tax indemnity provision, which Dreyfuss conceded at trial was not part of the original agreement, but which its attorney…