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DRYDEN & CO. v. GOULD, INC.

46 A.D.2d 871 (1974)

Dryden and Company, Appellant, v. Gould, Inc., Respondent, et al., Defendant

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

December 9, 1974

Waltham Industries Corp. (Waltham) was heavily indebted to the Franklin National Bank. In an attempt to alleviate its financial strait, Waltham engaged Dryden and Company (Dryden), a business broker, to find a buyer for a subsidiary of Waltham, known as Ferraloy. Dryden arranged for the sale of Ferraloy to Gould, Inc., (Gould). The original agreement of sale, dated September 11, 1970, completely insulated Gould from any liability...

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