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Contracts Keyed to Ayres
Centronics Corporation v. Genicom Corporation
Citation:132 N.H. 133
The contract between the parties provided for arbitration of any dispute about the value of the property transferred, to which the purchase price was pegged, and required an escrow deposit of a portion of the price claimed by the plaintiff pending final valuation. The plaintiff sued the defendant for breach of implied covenant of good faith for refusing during trial to release a portion of the escrow fund claimed to be free from “dispute.” The lower court granted summary judgment to the defendant. Plaintiff appealed.
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