Inside Long Island Business
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D'Addario & Co. held not liable for $227G in interest
Photo credit: Kevin P. Coughlin, 2010
The state’s highest court on Monday ruled that Long Island guitar-string maker D’Addario & Co. is not obliged to pay $227,000 in interest for reneging on a 2006 real estate deal.
The New York State Court of Appeals upheld a lower court decision, finding the East Farmingdale company’s initial sales agreement with Embassy Industries Inc., a Hauppauge-based heating equipment business, does...
