In re the Arbitration between Hudson Fabrics, Inc. & Susan Joan Frocks, Inc.

Petitioner Hudson Fabrics, Inc. (hereinafter referred to as the “ seller ”) has appealed from orders denying its motion to confirm a second award of arbitrators. The record shows, without dispute, that on January 26, 1948, the parties entered into an agreement in the form of an accepted sales memorandum whereby the seller agreed to sell to respondent Susan Joan Frocks, Inc. (hereinafter referred to as the “ buyer ”) approximately 15,000 yards of certain textiles at a specified price. The contract provided that the terms of payment were net sixty days, unless in the opinion of the seller or…