In March of 1976, plaintiff transferred $100,000 to defendant J. G. White Engineering Corp. for the ostensible purpose of financing a joint business venture in Iran. After J. G. White notified plaintiff that the enterprise had been canceled and that the company did not have the funds to repay plaintiff, negotiations were undertaken between plaintiff and defendant Robert E. MacDonald, president of J. G. White, pursuant to which it was agreed that plaintiff would accept a demand...
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