KEY INT. MFG. v. STILLMAN


103 A.D.2d 475 (1984)

Key International Manufacturing, Inc., Respondent, v. Irwin Stillman, Appellant, et al., Respondent

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

October 15, 1984


Attorney(s) appearing for the Case

Suozzi, English & Cianciulli, P. C. (Joseph A. Suozzi, Brian Michael Seltzer and Kenneth L. Gartner of counsel), for appellant.

Shaw, Goldman, Licitra, Levine & Weinberg, P. C. (J. Stanley Shaw and Jessie I. Levine of counsel), for respondent.

GIBBONS and O'CONNOR, JJ., concur with TITONE, J. P.; RUBIN, J., dissents and votes to affirm insofar as appealed from, with an opinion.


TITONE, J. P.

This case involves a complex commercial transaction entered into by two sophisticated businessmen. At issue is the enforceability of an acceleration clause contained in the contract. We hold the plaintiff to the consequences of its bargain.

In 1981, appellant Stillman sold certain real property to plaintiff. Two million dollars of the total purchase price was deferred, on terms, until July...

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