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LEE v. GOLDSTROM

161 A.D.2d 172 (1990)

Yonk Kyun Lee, Appellant, v. Alfred Goldstrom et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

May 1, 1990

Plaintiff contracted to purchase a wholesale shoe supply business from defendants in 1985 for $125,000, 40% to be paid at the outset and the balance to be secured by notes. Six months later, claiming he had been defrauded, plaintiff ceased paying on the notes, and brought this action for rescission plus $125,000 in compensatory damages and $500,000 in punitive damages, alleging misrepresentation of the value of the inventory he...

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