Dubro v. Kerner

Order, Supreme Court, Bronx County (Anita Florio, J.), entered October 27, 1989, which denied plaintiffs’ motion for summary judgment, is unanimously affirmed, without costs.

Defendant members of the board of directors of Farband Housing Corporation were not required to sign a recognition *448agreement, which would have facilitated a mortgage loan to the prospective purchasers of plaintiffs’ shares in the cooperative corporation. The corporation’s bylaws revealed a policy of discouraging speculation in share transactions for a profit motive. The board acted in good faith in rejecting an agreement…