WESTINGHOUSE CREDIT CORPORATION v. D'URSO, 99-7752, 99-7758
Seller in a real estate transaction is not entitled to satisfy and extinguish a purchase price adjustment, awarded to buyer in arbitration, by recoupment or setoff against judgments on a note and lease, where purchase price adjustment and judgments arose out of discrete and independent components of transaction, and in light of the parties' intentions, as reflected in a Stock Purchase Agreement.
- Argued 12/09/1999
- Decided 01/29/2002
- Published 01/30/2002
F.I. PARKER, Circuit Judge., Before: WINTER, F.I. PARKER, and SOTOMAYOR, Circuit Judges.
United States Second Circuit
John I. Karesh,Feltman, Karesh, Major & Farbman, LLP, New York, NY (Donald F. Schneider, Arthur D. Russell, Marlene D. Hall, Of Counsel), for Appellant.
Richard H. Dolan, Schlam Stone & Dolan, LLP, New York, NY (Bennette D. Kramer, of Counsel), for Appellee.