Stitz v. Stevens

—In an action on a series of promissory notes, plaintiffs appeal from a judgment of the Supreme Court, Nassau County, dated November 14, 1978, which, after a nonjury trial, inter alia, dismissed the complaint. Judgment reversed, on the law and the facts, with costs, judgment is granted to plaintiffs and the action is remitted to Special Term for entry of an appropriate judgment. On April 5, 1974 plaintiffs sold to defendants all of their stock in two businesses owned by them. In exchange they received $20,000 in cash and four promissory notes worth an aggregate amount of $43,300. The stock…