From our private database of 12,700+ case briefs...
New York Bronze Powder Company, Inc. v. Benjamin Acquisition Corp.
Court of Appeals of Maryland
716 A.2d 230 (1998)
New York Bronze Powder Company, Inc. (New York Bronze) (plaintiff) agreed to sell assets to Benjamin Acquisition Corp. (Benjamin) (defendant) for $4.5 million. Because of a valuation dispute, the parties amended their agreement to defer a portion of the purchase price based on the findings of an audit to be performed at Benjamin’s expense. In connection with the amendment, Benjamin executed a nonnegotiable note to New York Bronze in the amount of $350,000. The note required that New York Bronze surrender it to Benjamin “in order to receive payment.” Benjamin never had the audit performed and did not make any payments on the note. New York Bronze sued. At trial, it came out that New York Bronze was uncertain where the original note was but had good reason to believe it was in the hands of its lender along with other original documents from the transaction. The court decided in favor of New York Bronze, and Benjamin appealed. The Court of Special Appeals reversed the trial court decision, ruling that the note’s requirement of surrender to receive payment was an express condition to Benjamin’s obligation to pay. New York Bronze appealed.
Rule of Law
Holding and Reasoning (Smith, J.)
What to do next…
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.
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 120,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 12,700 briefs, keyed to 172 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.