OXFORD COMMERCIAL CORP. v. LANDAU


12 N.Y.2d 362 (1963)

Oxford Commercial Corporation, Respondent, v. Fred Landau et al., Individually and as Copartners Doing Business as Fred Landau & Co., Appellants.

Court of Appeals of the State of New York.

Decided April 4, 1963.


Attorney(s) appearing for the Case

Boris Kostelanetz and Thomas F. Ryan for appellants.

Albert Adams for respondent.

Chief Judge DESMOND and Judges DYE, VAN VOORHIS, BURKE, FOSTER and SCILEPPI concur.


FULD, J.

After plaintiff corporation had discovered that one of its directors, Morton Carlin, had been siphoning off its assets to rescue the latter's own corporations from collapse, the two parties, represented throughout by lawyers, engaged in extensive negotiations looking toward a settlement. The agreement ultimately adopted, giving evidence of careful thought and draftsmanship, leaves no doubt that it contemplated...

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