Order and judgment unanimously reversed, on the law and facts, with costs, and a new trial granted.
Memorandum:
Plaintiff and defendant entered into an "Asset Purchase Agreement," which provided that defendant would purchase plaintiff's equipment for $800,000 and its inventory at the net book value as of the closing date. Defendant placed $300,000 in escrow to be applied towards the purchase of the inventory. Subsequent to closing a dispute arose over the...
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