Defendant invested in a limited partnership in plaintiff, financed with a down payment of $10,000 and the balance covered by a note for $90,000, to be paid in quarterly installments. Defendant concededly defaulted on the note, but set up lack of consideration and fraud in the inducement as defenses to plaintiff's summary judgment motion.
Defendant received what he paid for — a limited partnership interest in a venture whose risk was acknowledged at the time...
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