INDUSTRIAL AMERICA INC. V. FULTON INDUSTRIES
285 A.2d 412 (Delaware 1971)
NATURE OF THE CASE: This was an action for a breach of contract. Cross-appeals were brought from an order of Superior Court in an action for a broker's commission.
FACTS: B-H, Inc. wanted to merge with another company. Industrial America (P) attempted to arrange several mergers. They all failed. B-H then changed its mind about merging. B-H did not notify P of this change. P approached Fulton (D) and D and B-H effected a merger. When D was introduced to B-H through P it guaranteed P that P would be protected. After the merger D refused to pay P; P was B-H's agent and B-H had terminated its offer to P. P sued D; the requested act had been performed and its motive in performing was not relevant.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
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