Parkway Management Co. v. Wolfson

Both sides appeal from an order of Special Term denying summary judgment.

Plaintiff sues for the balance due on a loan. The loan agreement is set out by a promissory note for $32,000. C'oncededly the loan was for a lesser amount. The error arose in the course of the fairly complex transaction. It appears that defendant was negotiating to acquire the control of Seaboard Plywood and Lumber Corporation (Seaboard), a company whose stock was traded on the American and National Securities Exchanges. He owned 100 shares of this stock. He had arranged to purchase 2,400 shares from one Colin, whose…