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RAPOPORT v. 55 PERRY CO.

50 A.D.2d 54 (1975)

Simon Rapoport et al., Appellants-Respondents, v. 55 Perry Co. et al., Respondents-Appellants

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

December 11, 1975

Attorney(s) appearing for the Case

Joseph Gaier of counsel (Luster, Gaier & Luster, attorneys), for appellants-respondents.

William M. Kufeld of counsel (Joseph N. Guterl with him on the brief; Carb, Luria, Glassner, Cook & Kufeld, attorneys), for respondents-appellants.

STEVENS, P. J., KUPFERMAN and MURPHY, JJ., concur with TILZER, J.; NUNEZ, J., dissents in an opinion.

TILZER, J.

In 1969, Simon, Genia and Ury Rapoport entered into a partnership agreement with Morton, Jerome and Burton Parnes, forming the partnership known as 55 Perry Company. Pursuant to the agreement, each of the families owned 50% of the partnership interests. In December of 1974 Simon and Genia Rapoport assigned a 10% interest of their share in the partnership to their adult children, Daniel and Kalia. The...

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