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Contracts Keyed to Blum
In re Seminole Walls & Ceilings Corp.
Facts
Seminole Walls & Ceilings Corporation (Seminole) filed for bankruptcy when PITA, an organization owned by Seminole, purchased a collection of photographs owned by Jasgur. Jasgur protested PITA’s ownership of the photographs because Jasgur was over 85 years old when the agreement was signed, suffered a mini-stroke, and was declared mentally incompetent. Jasgur, however, was represented by competent counsel at the time the agreement was signed, Jasgur’s acquaintance testified that Jasgur knew he was signing a legal compromise, and Jasgur signed the agreement in front of notaries.
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