Kamp v. Fiumera
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtStein, J.
Plaintiff, individually, entered into a stock purchase agreement with defendant, whereby defendant agreed to sell his 50 shares of stock in American-Sino Processing, Inc. (hereinafter ASPI) to plaintiff for $175,000 (hereinafter the ASPI agreement). To satisfy the purchase price, plaintiff executed a promissory note (hereinafter the first promissory note) to pay defendant such amount over time with interest. Subsequently, defendant executed a promissory note (hereinafter the second promissory note) to pay the Frank X. Kamp Trust, of which plaintiff is the trustee, the sum of $50,000, also to…
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