Cohn v. Schultz-Costlow Co.

The nature of the action and the substance of the allegations of the complaint are sufficiently set forth in the opinion of Mr. Justice McAvoy. Assuming the action is not within the principle of our memorandum decision in Carton v. Rubel Corp. (228 App. Div. 689), we are of opinion that the complaint shows a contractual obligation to redeem. It is. alleged that the defendant has refused not only to declare dividends, but also to comply with a request that the stock “ be redeemed in accordance with the terms of the certificate of stock.” It must be assumed from this allegation that the…