Logourl black
From our private database of 14,200+ case briefs...

Centronics Corporation v. Genicom Corporation

Supreme Court of New Hampshire
562 A.2d 187 (1989)


Facts

Centronics Corporation (Centronics) (plaintiff) contracted to sell business assets to Genicom Corporation (Genicom) (defendant). The contract required an escrow deposit by Genicom of the funds needed to fulfill the contract. The contract stated that the funds would be held by an escrow agent and would not be dispersed until the escrow agent received instruction from counsels for Centronics and Genicom. The contract also contained a provision requiring any disputes over the value of the property to be submitted to arbitration. Centronics and Genicom disputed the value of the property, and the matter was submitted to arbitration. While arbitration was pending, Centronics demanded a partial payment from the escrow funds of monies that were not in dispute. Genicom refused to release payment, arguing that the contract provided that the escrow agent should not release the funds until the completion of arbitration. Centronics brought suit against Genicom in New Hampshire state court, alleging Genicom’s failure to authorize a partial payment of the funds before arbitration violated an implied duty of good faith and fair dealing in the contract. The trial court held that because the contract contained no such provision requiring the partial payment of funds pending arbitration, Genicom did not violate a duty of good faith. Centronics appealed. 

Rule of Law

Issue

Holding and Reasoning (Souter, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 241,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,200 briefs, keyed to 189 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.