Read the full judgment text of on BabelCite. was delivered on 20 August 1999.
1. In terms of a written agreement dated 21 March 1996, the plaintiff sold to the first defendant certain assets of the plaintiff's radio paging business. The second defendant was a party to this agreement by which he guaranteed "for his own primary obligation . . . the due and punctual payment" by the first defendant of the price, less the sum of $7,629,517. The agreed price was $24,190,349 of which the first defendant paid $7,629,517, leaving a balance of $16,560,832. The plaintiff has commenc