In re the Estate of Corning

I dissent from so much of the majority’s decision as affirms Surrogate’s Court’s determination that the “book of business” marked “ECU” is the property of Albany Associates, Inc., rather than that of the estate of the late Erastus Corning, II. The majority and Surrogate’s Court reason that in the absence of an express contract between the parties, the American Agency System applies, under which, as a matter of custom and usage, ownership of the book of business (more commonly called the expirations) is awarded to the producer of the business, i.e., the agent or subagent who procured the…