Albiani v. Loudd

The defendants, Rommie L. Loudd (Loudd) and Newton-Relcorp. (Relcorp), appeal from a judgment entered on a bill for declaratory and other relief (as amended) alleging a contract dated January 20, 1971 (the January 20 contract), between the plaintiff and Loudd, whereby the plaintiff promised to assign to Loudd “or his nominee” the plaintiff’s interest in a lease which was given by Telmwood Realty Trust (Telmwood) to the plaintiff, the plaintiff’s brother (Peter Albiani), and Albiani Lunch, Inc. The contract further provided that “so long as the BUYER [Loudd] or his nominee shall obtain the…