Plaintiffs' complaint arises out of 1984 negotiations for the purchase of defendant's interests in the site occupied by Madison Square Garden. By letter of April 16, 1984, the broker employed by plaintiffs' principal, Morris Karp, transmitted an offer to defendant to purchase such interests for $37,750,000, payable over three years, with the contract date specified to be "[i]mmediately upon completion of documents". Later that month, Karp's attorneys prepared and transmitted...
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