Restaurant Supply, LLC v. Giardi Ltd. Partnership

The Supreme Court affirmed the judgment of the trial court in favor of Defendants after concluding that Plaintiff did not sufficiently plead that a transaction was an auction without reserve, holding that Plaintiff’s allegations were insufficient to allege an auction without reserve.After it granted Defendants’ motions to strike the trial court rendered judgment determining that Plaintiff failed to allege that one of the defendant’s request that potential buyers of its property submit their highest and best offers constituted an auction without reserve for purposes of Conn. Gen. Stat. 42a-2-328(3). The Supreme Court affirmed, holding that Plaintiff’s allegation that the defendant used the phrase “highest and best offers,” without more, was insufficient to plead an auction without reserve. View "Restaurant Supply, LLC v. Giardi Ltd. Partnership" on Justia Law