HOBART v. SCHULER


78 A.D.2d 916 (1980)

Richard B. Hobart et al., Appellants, v. David Schuler, Respondent

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

November 6, 1980


Plaintiffs were the owners of all the outstanding shares of Nanmar, Inc., a New York corporation which operated the Beef and Bacon Restaurant in Tonawanda, New York, when, on October 31, 1977, they entered into a stock purchase agreement with defendant whereby defendant purchased plaintiffs' shares in the corporation in return for, inter alia, $7,000 in cash or certified funds, a $3,500 interest free note payable in 30 days and an $11,000 note at 7.5% interest payable...

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