SPEAR v. PLAZA SOUND STUDIOS, INC.


59 A.D.2d 778 (1977)

James Spear, Respondent, v. Plaza Sound Studios, Inc., et al., Appellants

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

October 31, 1977


Judgment affirmed, with costs.

The plaintiff and the defendants entered into an agreement, drawn by the defendants' attorney, under which the plaintiff paid the sum of $10,000 as part of the purchase price of $15,000 for a 5% stock interest in the corporate defendant, the remaining $5,000 to be paid from the profits of the corporate defendant. The plaintiff agreed to be employed by the corporate defendant as an engineer and to devote his full time and effort in that...

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