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NORTHERN HEEL CORP. v. COMPO INDUSTRIES, INC.

Nos. 87-1422, 87-1423.

851 F.2d 456 (1988)

NORTHERN HEEL CORP., et al., Plaintiffs, Appellees, v. COMPO INDUSTRIES, INC., et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided June 30, 1988.

Attorney(s) appearing for the Case

John G. Fabiano with whom Cynthia O. Hamilton, Hale and Dorr, Boston, Mass. and Daniel A. Laufer, Manchester, N.H., were on brief for defendants, appellants.

Martin I. Eisenstein with whom Brann & Isaacson, Lewiston, Me., was on brief for plaintiffs, appellees.

Before COFFIN, BREYER and SELYA, Circuit Judges.

SELYA, Circuit Judge.

After defendant-appellant Compo Industries, Inc. (Compo) negotiated a purchase and sale agreement (the Agreement) referable to the assets of plaintiff-appellee Northern Heel Corporation (Noheel), it failed to close and instead invited renegotiation of the sale at a reduced price.1 Noheel declined the invitation, insisted that the closing should have gone forward as originally agreed, and brought suit. Compo counterclaimed...

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