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MATTER OF LENSOL FABRICS CO.

46 A.D.2d 753 (1974)

In the Matter of the Arbitration between Lensol Fabrics Co., Appellant, and Arcola Fabrics Corp., Respondent

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

November 12, 1974

In January, 1973, Lensol Fabrics Co. had purchased certain textile materials in China which were to be shipped to the United States. Payment for the goods was to be made in United States dollars. Due to the fluctuation in the value of currencies at that time, the exact cost of the shipment was unknown. In February, 1973, petitioner contacted a broker to "find a buyer for [the] goods", at a projected purchase price of 34 cents per yard. Arcola Fabrics Corp. was contacted by...

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