CRAMER v. SPADA


203 A.D.2d 739 (1994)

610 N.Y.S.2d 662

Morris Cramer, Appellant, v. Eugene R. Spada et al., Respondents

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

April 21, 1994


White, J.

On August 2, 1982 plaintiff, the sole shareholder of Cardoray Corporation, an operator of a bowling alley, sold all of Cardoray's outstanding stock to Bob Daubney Bowling Enterprises, Inc. (hereinafter Daubney Enterprises). As part of the purchase price, Daubney Enterprises executed a promissory note in favor of plaintiff in the sum of $296,000 which Robert Daubney personally guaranteed. Plaintiff, in turn, filed a UCC-1 financing statement...

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