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KEY APPLIANCE v. NAT. BANK

75 A.D.2d 92 (1980)

Key Appliance, Inc., Respondent-Appellant, v. National Bank of North America, Appellant-Respondent, et al., Defendants. (And Two Other Actions.)

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

May 29, 1980

Attorney(s) appearing for the Case

Edward N. Meyer of counsel (James J. Terry with him on the brief; Cole & Deitz, attorneys), for appellant-respondent.

Stephen S. Bernstein of counsel (Sol I. Sokolsky with him on the brief; McLaughlin & Stern, Ballen & Miller, attorneys), for respondent-appellant.

BIRNS, J. P., SULLIVAN, MARKEWICH and LUPIANO, JJ., concur.

FEIN, J.

Plaintiff, Key Appliance, Inc. (Key), whose sole stockholders are retailers in the discount appliance business, is a buying cooperative for retail stores. Key's sole business is the purchase of appliances which it resells to retailers as a means of sharing the benefits of mass buying power, carload shipments, volume rebates and joint advertising allowances. For many years plaintiff maintained its principal...

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