In re Albert J. Pfeiffer, Inc.

The parties entered into a contract, by which Albert J. Pfeiffer, Inc., contracted to sell to Largman, Gray Company certain raw silk. A part of the silk tendered in performance of this contract was rejected as defective. After its rejection some of it was sold by Albert J. Pfeiffer, Inc., to third parties. The parties hereto entered into an arbitration agreement under the rules of The Silk Association of America. Under those rules the seller, as both parties agree, had the right to substitute new silk for the quantity originally tendered. This silk was examined by the arbitrators who made an…