DeGroff v. American Linen Thread Co.
New York Supreme Court
MOTION for a new trial. The defendants are a manufacturing corporation, organized for the purpose of manufacturing linen goods, &c.
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MOTION for a new trial. The defendants are a manufacturing corporation, organized for the purpose of manufacturing linen goods, &c. Having a store of goods which they had been engaged in retailing to customers, and particularly to those employed in their manufacturing establishment, on the 29th of January, 1853, they agreed with the plaintiff to sell out to him their entire stock in trade, for $3445, of which $1000 was to be paid in cash, and the remainder in six, nine and twelve months, with interest. Negotiable notes were to be given for these payments, secured by mortgage. It was also…
1Opinion of the Court
By the Court, Harris, J.
The agreement upon which this action is brought, is to be treated as a part of the contract for the sale of the defendants’ stock in trade to the plaintiff. One inducement for the plaintiff to make the purchase, obviously was, that he might thereby secure the custom and patronage of the defendants’ establishment. He was willing to have the price depend upon this contingency. If he could have the benefit of the trade he sought, he could afford to pay a larger price for the goods. He accordingly agreed to pay $300 more in the one case than in the other, and the…
2Cases cited1 opinion
- Steam Navigation Co. v. WeedNew York Supreme Court · 1853
3Cited by4 opinions
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