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KATZ v. PERRELLA

92 A.D.2d 509 (1983)

Gerald Katz, Individually and as a Partner of Charles Perrella Ring Company, Appellant-Respondent, v. Philomena Perrella et al., as Coexecutors of Charles R. Perrella, Deceased, et al., Respondents-Appellants Philomena Perrella et al., as Coexecutors of Charles R. Perrella, Deceased, Counterclaim-Plaintiffs, v. Gerald Katz, Individually and as a Partner of Charles Perrella Ring Company, et al., Counterclaim-Defendants. United States Life Insurance Company, Appellant

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

February 17, 1983

Plaintiff and Charles R. Perrella were partners in the jewelry business, doing business as Charles Perrella Ring Company since 1962. In October, 1977, after a year of friction and regotiations, plaintiff and Perrella initialed a handwritten agreement on division of assets. Trial Term correctly ruled that this agreement effectively dissolved the partnership as of an agreed-upon closing date of November 1 of that year, although termination...

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