ROSENTHAL v. LANGGUTH-OLSON CO., INC.


18 A.D.2d 1071 (1963)

Meyer S. Rosenthal, Individually and as Executor of Fannie W. Rosenthal, Deceased, et al., Respondents, v. Langguth-Olson Company, Inc., Appellant

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

April 30, 1963


Judgment awarding plaintiffs judgment in the sum of $110,293.90 unanimously reversed, on the law and on the facts, and the complaint dismissed, without costs.

The provision in the agreement under which plaintiffs claim to be entitled to recover a portion of the reserve set up for taxes is related to an involuntary prospective change in the method of reporting income from cash to accrual basis imposed upon the corporation by the action of the Treasury Department. The...

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