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TORELLI v. ESPOSITO

63 N.Y.2d 903 (1984)

Thomas Torelli, as Administrator of The Estate of James Torelli, Deceased, Respondent, v. John Esposito, Defendant, and Rachel Esposito, Appellant.

Court of Appeals of the State of New York.

Decided October 18, 1984.

Attorney(s) appearing for the Case

James J. Harrington for appellant.

Richard M. Resnick for respondent.

Chief Judge COOKE and Judges JASEN, JONES, WACHTLER, MEYER, SIMONS and KAYE concur.

MEMORANDUM.

The judgment appealed from and order brought up for review should be reversed, with costs, and the plaintiff's motion for summary judgment denied.

The parties executed a promissory note and stock purchase agreement under which plaintiff's decedent sold defendants certain shares of stock in return for a $365,000 interest-bearing promissory note. On defendant's default, plaintiff moved for summary judgment...

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