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MTR. OF MORGAN TRUST CO. v. WASSERMAN

10 A.D.2d 278 (1960)

In the Matter of Morgan Guaranty Trust Company of New York et al., as Executors of Otto Knopf, Deceased, Respondents, v. Lillian Wasserman, Respondent-Appellant In the Matter of the Arbitration between Lillian Wasserman, Appellant, and Julius Weiss et al., as Executors of Otto Knopf, Deceased, Respondents Lillian Wasserman, Appellant, v. Julius Weiss et al., as Executors of Otto Knopf, Deceased, Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

April 12, 1960.

Attorney(s) appearing for the Case

Gustave H. Newman of counsel (Bernard Jeffrey with him on the brief; Evseroff, Jeffrey & Newman, attorneys), for appellant.

Jack E. Bronston of counsel (Weiss & Bronston, attorneys), for Morgan Guaranty Trust Company of New York and another, respondents.

McNALLY, STEVENS and BASTOW, JJ., concur with RABIN, J. P.; M. M. FRANK, J., dissents and votes to affirm in opinion.

RABIN, J. P.

The appellant, Lillian Wasserman, and the decedent of the respondents executors, Otto Knopf, together, owned all of the stock of a corporation. Wasserman was the minority stockholder and Knopf was the majority stockholder. On January 23, 1958 they entered into a written agreement which provided, inter alia, that in the event of the death of Knopf, Wasserman was to purchase his stock holdings...

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