Torres v. Speiser

—Order, Supreme Court, Bronx County (Kenneth Thompson, Jr., J.), entered December 24, 1998, which denied plaintiffs motion for partial summary judgment with respect to his claim that the sale of his minority interest in defendant corporation to the individual defendant is invalid, unanimously affirmed, without costs.

There is no merit to plaintiffs argument that the sale of his stock is invalid under Business Corporation Law § 504 because the price of the stock was less than its par value and such defect could not be cured by the individual defendant’s promises of future consideration. While…