Peters, J.P.
In November 1991, plaintiffs, defendant and Fred Bush, defendant's business associate, entered into a contract whereby plaintiffs became investors in vacation property located on Martha's Vineyard in Massachusetts. The contract stated that La Pietra Associates, Inc., a closely held corporation, had constructed a 2,300 square foot single family house on a lot that it owned in Martha's Vineyard which had an appraised value of $500,000. It further stated...
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