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JONES v. STORY

241 A.D.2d 853 (1997)

660 N.Y.S.2d 223

William R. Jones, Individually and as a Stockholder of Mare Island Corporation, Respondent, v. George Story, Individually and as an Officer and Stockholder of Mare Island Corporation, et al., Respondents, and Mare Island Corporation, Appellant

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

July 31, 1997

Yesawich Jr., J.

In April 1986, plaintiff and defendants George Story and Curt Jones formed defendant Mare Island Corporation, for the purpose of owning, training and racing standardbred horses. The three were equal shareholders in the corporation but had orally agreed that, inasmuch as plaintiff had advanced the funds to purchase the principal corporate assets — real estate and several horses —...

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