US Patent: 2,816,462
|
| Precision boring machine
|
|
Patentee:
|
|
| Seth M. Babbitt (exact or similar names) - Fanwood, NJ |
| Manufacturer: |
| Not known to have been produced |
|
|
Patent Dates:
|
| Applied: |
Apr. 26, 1956 |
| Granted: |
Dec. 17, 1957 |
USPTO (New site tip)
Google Patents
Report data errors or omissions to steward
Jeff Joslin
|
|
Description: |
| The Massari brothers had had a business, Accurate Bushing Company of Garwood, NJ, manufacturing drill bushings, which have stringent tolerances and are challenging to manufacture. They sold that business in the mid-1940s and subsequently engaged in extensive litigation around that sale. Facts given at trial suggest that the Massari brothers were prone to slightly shady business practices such as shipping drill bushings known to be out of tolerances. An inventory of many thousands of drill bushings were part of the sale but as a separate transaction. The purchaser discovered that many bushings were undersized by as much as one-tenth of a thousandths of an inch, and refused to pay the agreed-upon contract price. The Massari brothers then claimed that the contracted price did not reflect the real price because the price of the bushings was decreased and the price of the business increased "for tax reasons". The court was not impressed with that illegal (alleged) maneuver and refused to consider how that would influence damages owed. |
|
