MATTER OF CAPELIN


3 A.D.2d 995 (1957)

In the Matter of the Arbitration between Arnold H. Capelin et al., Appellants-Respondents, and Abraham Klein, Appellant-Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

June 11, 1957


In contracting for the sale of the stock of telephone answering corporations, the parties specified a formula for computing the sales price and provided that 22% thereof would be payable by certified check on the date of the closing, 10% by a negotiable note payable 10 months thereafter, and the balance by 25 promissory notes payable every three months thereafter. The contract provided for subsequent adjustments in the price if the purchasers objected to the propriety of...

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