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KAMINSKY v. KAHN

27 A.D.2d 248 (1967)

Abraham J. Kaminsky, Respondent-Appellant, v. Albert M. Kahn, Appellant-Respondent

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

March 9, 1967.

Attorney(s) appearing for the Case

Milton Pollack, attorney (Samuel N. Greenspoon and Barry H. Singer with him on the brief), for appellant-respondent.

Samuel R. Weltz of counsel (Milton B. Franklin and Sidney O. Raphael with him on the brief; Raphael, Searles & Vischi, attorneys), for respondent-appellant.

BOTEIN, P. J., RABIN and McNALLY, JJ., concur in Per Curiam opinion; STEUER, J., dissents in opinion in which STEVENS, J., concurs.

Per Curiam.

This action arises out of a contract entered into between the parties on October 28, 1957. By such contract the plaintiff transferred all of his stock (unregistered) in Spear & Co. to the defendant as the "sole and absolute owner" subject, however, to a continued interest of the plaintiff in such stock. Such interest consisted of a right to 1/3 of any dividends declared on such stock and in the event...

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