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URBAN ARCHAEOLOGY v. DENCORP

12 A.D.3d 96 (2004)

783 N.Y.S.2d 330

URBAN ARCHAEOLOGY LTD. et al., Appellants, et al., Plaintiff, v. DENCORP INVESTMENTS, INC., et al., Respondents.

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

October 5, 2004.

Attorney(s) appearing for the Case

Alpert Butler Sanders Norton & Bearg, P.C., New York City (Clark E. Alpert and Jason R. Melzer of counsel), for appellants.

Lapidus & Associates, LLP, New York City (Steven R. Lapidus and Robert N. Fass of counsel), for respondents.

SULLIVAN, FRIEDMAN and GONZALEZ, JJ., concur.

OPINION OF THE COURT

MAZZARELLI, J.P.

In June 1988, plaintiff Gil Shapiro, Leonard Schecter, and defendant Allan Reiver formed a partnership, Urban Archaeology Company (the Company), to market architectural antiques and high-end architectural reproductions. Shapiro and Schecter contributed inventory from their existing architectural salvage business, and Reiver invested over $1 million in new inventory. The business, headquartered at 143 Franklin Street...

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