Ordered that the judgment is affirmed, with costs.
On October 17, 1988, the defendants entered into a contract with the plaintiffs to purchase 100% of the stock of Chalm Realty Corporation. The contract provided that simultaneously upon execution of the agreement, the defendants would wire $286,250 to an escrow account as a down payment. The contract also provided that if the defendants refused or were unable to close pursuant to the agreement for any reason other...
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