On April 21, 1970 appellant, as seller, and respondent, as buyer, entered into a contract for the sale of all equipment, licenses, franchises and other assets owned by appellant and employed in the operation of a community antenna television system in the Town of Rosendale, New York. As evidence of the buyer's good faith, a down payment of $7,000 was deposited with appellants. The parties agreed that the transaction was to be completed within 90 days and that time was of...
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