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TROIANO v. ILARIA

234 A.D.2d 286 (1996)

650 N.Y.S.2d 1001

Thomas J. Troiano, Respondent, v. Alfonso A. Ilaria et al., Appellants

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

December 2, 1996

Ordered that the order is affirmed insofar as appealed from, with costs.

Margaret Troiano, the plaintiff's wife, entered into a participation agreement with defendants Frank Vecchiarelli and Neil Durazzo. The agreement provided that the participants would loan $400,000 to Court Towers Corp., which loan was secured by a second mortgage on real property in Ocala, Florida. Margaret Troiano contributed $50,000 of the loan for a 12.5% stake in the enterprise. Margaret...

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