KOLON AMERICA, INC. v. ZELOUF INTERNATIONAL CORP.


292 A.D.2d 308 (2002)

740 N.Y.S.2d 301

KOLON AMERICA, INC., Respondent, v. ZELOUF INTERNATIONAL CORP. et al., Defendants, and IM YOUNG AHN et al., Appellants.

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

Decided March 28, 2002.


The subject stipulation of settlement, which required appellants to pay plaintiff $300,000 in specified installments at intervals measured from the date of the stipulation, and was made conditional upon the posting of certain security by a nonparty, was properly enforced, even though the security was never posted, upon plaintiff's waiver of the condition requiring the security. Since such condition was meant only to protect plaintiff, it could be waived by plaintiff (see...

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