Greenberg v. Alter Company

Plaintiff and defendant, Alter Company, a corporation, entered into a joint- venture in June of 1950 to purchase steel landing mats from the General Services Administration. The intention of course was to resell the same at a profit. Approximately $117,000 was paid for 4600 tons of steel landing mats.' From June 1950 to May 25, 1953, approximately 1300 tons of the mats were disposed of by the joint venturers for about $99,000. It was then agreed in writing by the parties to dissolve the joint venture and liquidate the remaining mats, about 3300 tons, by a public auction sale to be held June…