In 1986, plaintiff Valentine Transit, Inc. purchased a New York City taxi medallion through defendant Sherman Taxi Medallion Sales, Inc., then known as Herman Sherman Associates, acting as a broker. When Valentine decided to sell the medallion, it again contacted Sherman to make the arrangements. Sherman found a buyer later that year, defendant Jean Kernizan, who deposited $12,000 with Sherman as a down payment. Thereafter, a check in the amount of $111,766.33 drawn on defendant...
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