A federal judge in New Jersey ruled...
A federal judge in New Jersey ruled that a trial be held to determine if real estate developer Donald Trump defaulted in payment on an agreement to buy the United States Football League New Jersey Generals.
U. S. District Judge John Bissell refused Trump’s request to dismiss a claim that the New York millionaire purposely missed a $680,000 payment. Under terms of the deal in which Trump bought the team in 1983 for $5.3 million from J. Walter Duncan, Trump made a down payment of $1.2 million and agreed to pay the rest in $680,000 installments by June of each year.
When Trump missed last June’s deadline, Duncan pressed him for the money, to which Trump responded with a lawsuit. Bissell ruled that there was sufficient dispute of fact to merit a trial.
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