Craven v. Rigas
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtCardona, P.J.
Appeal from a judgment of the Supreme Court (Garry, J.), entered June 30, 2009 in Tompkins County, which, among other things, granted plaintiffs motion for summary judgment in lieu of complaint.
In August 2000, plaintiff sold shares of stock to defendant representing a 25% equity interest in Americell, Inc. As consideration for the stock, defendant paid plaintiff $500,000 cash at the time of the sale and also executed and delivered a promissory note in the principal amount of $850,000. Under the original terms, the note was to become due on August 31, 2004, and the governing law would be that…
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