The IAS Court properly determined that the Underwriting Agreement, dated February 12, 1991, executed solely by the plaintiff and defendant Manchester, and the Agreement Among Underwriters, which, by its terms, became effective only when executed by all five purported underwriters, was not binding upon the moving defendants, who were non-signatories to the Agreements. Their purported agent, defendant Manchester, lacked both actual or apparent authority to bind the defendants...
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