Arndt v. Altman

Plaintiff had pledged jewelry which she was unable to redeem. It was about to be sold at auction. By agreement, defendants supplied the money and received the jewelry with a bill of sale from plaintiff, granting her an option to repurchase within a limited time upon payment of an added 5%. The option was not exercised. Thereafter, following complaint by plaintiff to the Department .of Licenses of the City of New York regarding the transaction, plaintiff’s option was extended and she formally acknowledged defendants’ title in the jewelry and agreed to deliver a general release to them. Both…