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AMERICAN STD v. OAKFABCO, INC.

No. 44

14 N.Y.3d 399 (2010)

927 N.E.2d 1056

901 N.Y.S.2d 572

AMERICAN STANDARD, INC., Respondent, v. OAKFABCO, INC., Formerly Known as KEWANEE BOILER CORP., Appellant.

Court of Appeals of New York.

Decided April 6, 2010.

Attorney(s) appearing for the Case

Landman Corsi Ballaine & Ford P.C., New York City ( William G. Ballaine, Michael L. Gioia and Jason C. Astle of counsel), for appellant.

McGuire Woods LLP, New York City ( Yvette Harmon , Marshall Beil and Sarah Schaeffer-Roth of counsel), and McGuire Woods LLP, Charlottesville, Virginia ( Meghan M. Cloud of counsel), for respondent.

Chief Judge LIPPMAN and Judges CIPARICK, GRAFFEO, READ, PIGOTT and JONES concur.

OPINION OF THE COURT

SMITH, J.

The issue here is whether the buyer of a boiler business assumed the seller's liabilities for tort claims based on boilers sold before the business was acquired, where the tort claimants were not injured until after the acquisition. We hold that the language of the parties' agreement, read in context, shows that the buyer did assume those liabilities.

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In 1970,...

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