Midland-Ross Corporation v. American Cyanamid Company

LIVELY, Circuit Judge.

This is a diversity action in which the plaintiff sought to recover from the defendants money which the plaintiff paid as personal property taxes to the State of Ohio in the year 1970. The district court denied recovery, and the plaintiff has appealed. A stipulation of facts reveals that the plaintiff, Midland-Ross Corporation (M-R), sold to the defendant, American Cyanamid Company (Cyanamid), the assets of a business known as the IRC Fibers Division of Midland-Ross on December 29, 1969. The sale was made pursuant to a purchase agreement which was filed as an exhibit…