Plaintiffs allege that their contract with a holder of unsold shares was exempt from Board approval and subject only to the approval of the managing agent, which was not to be unreasonably withheld, and that the managing agent, having received an improper communication from the Board concerning the sale, refused to approve the contract because its purpose could only have been to create a duplex in violation of a long-standing Board policy. This fails to state a cause of action...
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