Gavit & Co., Inc. (hereafter Gavit), is engaged in the printing and engraving business in the City of Albany. Its sole stockholder is Elizabeth Mullin and her stepson is the president. From the record it would appear that there are no other officers and no directors. On September 18, 1978, upon the invitation of Mr. Mullin, Leslie, Semple and Garrison, Inc. (hereafter Leslie) by its president, Dean Jackson, executed a letter of intent to purchase all of the physical assets...
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