CRAVEN v. RIGAS

507891.

71 A.D.3d 1220 (2010)

896 N.Y.S.2d 504

J. JEFFREY CRAVEN, Respondent, v. JOHN C. RIGAS, Appellant.

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

Decided March 4, 2010.


Cardona, P.J.

In August 2000, plaintiff sold shares of stock to defendant representing a 25% equity interest in Americell, Inc. As consideration for the stock, defendant paid plaintiff $500,000 cash at the time of the sale and also executed and delivered a promissory note in the principal amount of $850,000. Under the original terms, the note was to become due on August 31, 2004, and the governing law would be that of Pennsylvania. Subsequently, on November 21, 2003...

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