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MARTIN COHEN ET AL. v. SCIENTIFIC RESOURCES CORPORATION (04/17/75)

SUPREME COURT OF PENNSYLVANIA


decided: April 17, 1975.

MARTIN COHEN ET AL.
v.
SCIENTIFIC RESOURCES CORPORATION, SUCCESSOR TO SUNASCO, INCORPORATED, APPELLANT, ET AL. SCIENTIFIC RESOURCES CORPORATION, SUCCESSOR TO SUNASCO, INCORPORATED, APPELLANT, ET AL., V. MARTIN COHEN ET AL.

Appeal Nos. 273, 290 and 291 January Term, 1974, from the Decree of the Court of Common Pleas of Philadelphia at Nos. 130, 666 and 793 April Term, 1968; Herbert S. Levin -- Harry A. Takiff -- George J. Ivins, Judges.

COUNSEL

Perry S. Bechtle, Richard M. Squire, Harold Greenberg, Cohen, Shapiro, Polisher, Shiekman & Cohen, Philadelphia, for appellant.

Nathan L. Posner, Fox, Rothschild, O'Brien & Frankel, Donald Brown, Philadelphia, for appellee.

Jones, C. J., and Eagen, O'Brien, Roberts, Pomeroy, Nix and Manderino, JJ. Roberts, J., filed a dissenting opinion.

Author: Per Curiam

[ 461 Pa. Page 147]

OPINION OF THE COURT

Decree affirmed. Appellant to bear costs.

[ 461 Pa. Page 148]

DISSENTING OPINION

ROBERTS, J.

I dissent. In my view, the chancellor's adjudication was based on a proper construction of the contract as providing for offsets against the purchase price to the extent of the overstatement of the net worth of Hilco in the balance sheet dated December 31, 1964, as demonstrated by the failure of specified assets, upon their liquidation, to realize cash in an agreed amount. I would vacate the decree of the court en banc and reinstate the decree of the chancellor.

19750417

© 1998 VersusLaw Inc.



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