First National Bank of Boston v. Fairhaven Amusement Co.

The pertinent evidence most favorable to the plaintiff was as follows: On July 22, 1958, the defendants made an oral agreement with the plaintiff. Under its terms, the defendants were to bid at least $135,000 at a judicial foreclosure sale for personal property on which the plaintiff held a chattel mortgage and for the interest in a ten year lease of real estate which had been assigned to the plaintiff. The property had been used in connection with the operation of a drive-in theatre in Newington, Connecticut. The sale was held on February 6,1959, in Connecticut pursuant to an order of the…