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M.I.F. CO. v. STAMM & CO.

94 A.D.2d 211 (1983)

M.I.F. Securities Company et al., Appellants, v. R. C. Stamm & Co., Respondent

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

June 16, 1983

Attorney(s) appearing for the Case

Judith B. Yaeger of counsel (Stephen R. Steinberg with her on the brief; Reavis & McGrath, attorneys), for appellants.

Peter R. Cella, P. C., for respondent.

ROSS and MILONAS, JJ., concur with SULLIVAN, J. P.; FEIN and KASSAL, JJ., each dissent in separate opinions.

SULLIVAN, J. P.

On or about July 1, 1981 petitioner M.I.F. Securities Company (MIF), a limited partnership, and respondent R. C. Stamm & Co. (Stamm), a general partnership, both engaged in the securities business, entered into an agreement whereby Stamm was to operate as a division of MIF under certain limited profit and expense sharing provisions. MIF was a member firm of the American Stock Exchange (Amex), while Stamm was not a member of Amex or...

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