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CARELLA v. SCHOLET

34 A.D.3d 915 (2006)

824 N.Y.S.2d 185

JOHN J. CARELLA et al., Individually and as Limited Partners on Behalf of SCHOLET BUILDING ASSOCIATES, Respondents, v. RICHARD L. SCHOLET et al., Individually and as General Partners of SCHOLET BUILDING ASSOCIATES, Appellants, et al., Defendants.

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

Decided November 2, 2006.

Kane, J.

Defendants Richard L. Scholet and Jean R. Scholet owned a building in the Town of Cobleskill, Schoharie County, out of which they operated a furniture business. When the business began experiencing financial difficulties, they restructured the business by transferring the building to a limited partnership, Scholet Building Associates, which would lease the building back to the furniture business. The Scholets were general partners and plaintiffs were limited...

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