Legal Opinion
Marcus Dairy, Inc. v. Jacene Realty Corp.
Appellate Division of the Supreme Court of the State of New York
Decided March 4, 1996PublishedCited by 4 opinions
1Opinion of the Court
The plaintiff was the chief creditor and a 50% stockholder of Naugatuck Dairy Ice Cream Company (hereinafter Naugatuck), a Connecticut corporation. Freedom Foods, Inc. (hereinafter Freedom) purchased the Naugatuck stock, plant, equipment, fixtures, trucks, and inventory for $342,500. Freedom paid $50,000 in cash and signed two promissory notes payable to Naugatuck, one for $200,000 for payment on the inventory, and one for $92,500. The purchase price was subject to post-closing adjustments. The promissory notes, in turn, were assigned by Naugatuck to the plaintiff. Thereafter, the defendant…
2Cases cited6 opinions
- Manufacturers Hanover Trust Company v. Nicholas Yanakas, Charles Buonincontri and Camille BuonincontriCourt of Appeals for the Second Circuit · 1993
- Elliott v. . BradyNew York Court of Appeals · 1908
- Rhodia, Inc. v. SteelAppellate Division of the Supreme Court of the State of New York · 1969
- Alling Paper Co. v. MassininConnecticut Superior Court · 1974
- Ralston Purina Co. v. Siegel's Poultry, Inc.Appellate Division of the Supreme Court of the State of New York · 1965
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3Cited by4 opinions
- Marcus Dairy, Inc. v. Jacene Realty Corp.Appellate Division of the Supreme Court of the State of New York · 2002
- Otto Roth & Co. v. Gourmet Pasta, Inc.Appellate Division of the Supreme Court of the State of New York · 2000
- Kinville v. Jarvis Real Estate Holdings, LLCAppellate Division of the Supreme Court of the State of New York · 2007
- Medallion Funding Corp. v. NorritoAppellate Division of the Supreme Court of the State of New York · 2000