We disagree and do not believe that, under the circumstances of this case, judgment by default should have been granted unconditionally. Pursuant to a written agreement executed in November, 1969, plaintiff Margolies purchased from defendant Chaffer certain shares of stock of a co-operative corporation, together with the proprietary lease applicable thereto. A portion of the purchase price, i.e., $12,500, was deferred and evidenced by two...
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