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  5. 674 F.Supp. 986 (1987)
 

ARLINGTON PARK RACETRACK v. SRM COMPUTERS, INC.

No. 86 CV 2543 (ERK).

674 F.Supp. 986 (1987)

ARLINGTON PARK RACETRACK LTD. and Tele-Conference Corporation, Plaintiffs, v. SRM COMPUTERS, INC., Joseph L. Schwartz, and RCA American Communications, Inc., Defendants.

United States District Court, E.D. New York.

December 8, 1987.

Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton & Garrison by Andrew Plunkett, New York City, for plaintiffs.

Estroff, Waldman & Poretsky by Jonathan Siegfried, New York City, for defendant SRM.

Davis, Markel & Edwards by William F. Haigney, New York City, for defendant RCA.

Parker Chapin Flattau & Klimpl by Genevieve A. Harris, New York City, for defendant Schwartz.

CORRECTED MEMORANDUM & ORDER

KORMAN, District Judge.

Plaintiffs Arlington Park Racetrack Ltd., and Tele-Conference Corporation (collectively "Arlington") brought this diversity action against defendants SRM Computers, Inc. ("SRM"), Joseph L. Schwartz ("Schwartz"), SRM's vice-president, and RCA American Communications, Inc. ("RCA"). Arlington seeks, inter alia, rescission of a so-called novation agreement by which it agreed to assume certain debts...

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