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WILLIAM TOWNE ASSOCIATES, INC. v. PEGASUS CONSTRUCTION, INC.

286 A.D.2d 246 (2001)

728 N.Y.S.2d 372

WILLIAM TOWNE ASSOCIATES, INC., Appellant, v. PEGASUS CONSTRUCTION, INC., et al., Respondents.

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

Decided August 9, 2001.

Defendants' three-day-late proffer of the second of the three payments due pursuant to the parties' stipulation of settlement, after timely making the first payment, would not have justified a finding that defendants were in default under the stipulation. Neither the stipulation nor the parties' conduct demonstrates that time was of the essence (see, Ciani v Georgalas, 274 A.D.2d 443

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