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ST. REGIS PAPER CO. v. RAYWARD

16 A.D.2d 130 (1962)

St. Regis Paper Company, Appellant, v. John L. Rayward, Doing Business as Rayward Associates, et al., Respondents

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

March 27, 1962.

Attorney(s) appearing for the Case

Horace R. Lamb of counsel (H. Richard Wachtel and Joseph Diamond with him on the brief; Le Boeuf, Lamb & Leiby, attorneys), for appellant.

A. Hayne de Yampert of counsel (Raymond S. Blessing, Charles C. Humpstone and Lauriston Castleman, Jr., with him on the brief; White & Case, attorneys), for respondents.

BOTEIN, P. J., BREITEL, RABIN and McNALLY, JJ., concur.

STEVENS, J.

This is an appeal by plaintiff from an order entered April 6, 1961, which denied its motion for summary judgment.

The primary issue is whether a "memorandum agreement" of May 21, 1959, when read and construed with letters of April 6, 1959 and May 18, 1959, constitutes a valid and binding contract between the parties. A subsidiary question concerns the nature and purpose of a $20,000 payment...

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