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SAVINO v. PRECISION TESTING & BALANCING, INC.

51 A.D.3d 592 (2008)

859 N.Y.S.2d 636

ROSE SAVINO, as Executrix of THOMAS M. SAVINO, Deceased, Respondent, v. PRECISION TESTING & BALANCING, INC., Appellant, et al., Defendants.

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

Decided May 29, 2008.

In this action for breach of contract brought by the wife of a deceased shareholder of defendant corporation, the shareholders' agreement provided that upon the death of the first shareholder, the corporation was required to purchase from the deceased shareholder's personal representative all the capital stock owned by the decedent at the time of his death. According to the agreement, the closing on the redemption was to take place...

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