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LANDSMAN, INC. v. GRAND-PERRIDINE DEV. CORP.

169 A.D.2d 460 (1991)

Landsman, Inc., Respondent, v. Grand-Perridine Development Corp. et al., Appellants, and National Lending Group, Inc. — New York, Respondent

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

January 15, 1991

By agreement dated December 30, 1983, the Fox Meadow Associates partnership was formed by plaintiff, which received a 10% interest, and defendants Grand-Perridine Development Corp. and National Lending Group, each of which received a 45% interest to construct homes on certain unimproved land in Nassau County. Subdivision approval was not obtained until June 1988, by which time the partnership had exhausted its funds. The partners, unable to agree on either a sale of partnership...

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