Sussman v. Goldberg

By a contract dated June 9, 1960, the plaintiff agreed to purchase from the defendant Rose Goldberg 50 shares of the 100 shares of stock owned by her in the corporate defendant. The price therefor was $4,750, of which $1,000 was to be paid in cash and the balance by promissory notes payable weekly until fully paid. As security for the pay*1071ment of these notes, the plaintiff indorsed the certificate of stock he purchased and left it with the seller. Pursuant to the terms of this contract, the plaintiff was elected a director of the corporate defendant and its secretary, and entered upon Ms…