MAGNET RESOURCES, INC. v. SUMMIT MRI, INC., MAGDY ELAMIR, M.D., MOHAMED HANAFY, AND KENNEDY MRI, INC.

Plaintiff Magnet Resources,Inc. and defendant Summit MRI,Inc. each charged the other with a material breach of contract and sued for damages. Magnet Resources also sought damages from two officers of Summit, defendants Magdy Elamir, M.D., and Mohammed Hanafy, on the ground that they had induced Magnet Resources to continue performance of its agreements by fraudulent promises of payment. On pretrial motions for summary judgment, the claims against the individual defendants were dismissed and a partial summary judgment was entered in favor of Magnet Resources for $6,800. The parties' other breach of contract claims were tried to a jury.

The jury found that both parties had breached; and it awarded $492,320 to Magnet Resources and $18,470 to Summit.

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Summit appealed and Magnet Resources cross-appealed. The Superior Court of New Jersey, Appellate Division, affirmed the judgment in favor of Magnet, vacated the judgment in favor of Summit, and remanded. See: 723 A.2d 976 (N.J. Super.1998). The date shown above is the date of the appellate court decision and not the trial date. Reported by JAB.