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VALEO ENGINE COOLING, INC. v. GUY F. ATKINSON CO. OF CALIFORNIA

240 A.D.2d 176 (1997)

658 N.Y.S.2d 285

Valeo Engine Cooling, Inc., et al., Respondents-Appellants, v. Guy F. Atkinson Company of California et al., Appellants-Respondents

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

June 5, 1997

The documents prepared by defendants setting forth the terms of the bidding for the sale of defendant Atkinson's subsidiary provided that, upon acceptance of an offer, Atkinson and the purchaser "will promptly execute and deliver a definite purchase agreement". That undertaking is clearly inconsistent with defendants' rescission of their acceptance of plaintiff's offer in favor of a higher offer allegedly submitted after the deadline...

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