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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Newfeld v. Chemical Dynamics, Inc., 784 S.W.2d 240 (1989)

Citation
Newfeld v. Chemical Dynamics, Inc., 784 S.W.2d 240 (1989)
Parent Document
Newfeld v. Chemical Dynamics, Inc., 784 S.W.2d 240 (1989)
Jurisdiction
Missouri (state)
Effective Date
1989-12-12

Other Sections in This Document (45)

Full Text

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In the present action, Chemical had contractual obligations under the 1968 lease to the original owners. These contractual obligations were not extinguished by Chemical’s assignment of the lease to Lawrence Newfeld in 1970, because Chemical remained in privity of contract with the original owners. In prior litigation between the same parties, we held that Lawrence Newfeld had accepted the assignment of the lease in return for a loan to Chemical, a corporation which was in danger of insolvency, precisely because the option to purchase the building was consideration for his accepting the assignment. Chemical Dynamics,