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WALSH v. BLAGGARDS III RESTAURANT CORP.

15567, 110484/11.

131 A.D.3d 854 (2015)

17 N.Y.S.3d 11

2015 NY Slip Op 06765

DANIEL P. WALSH, Appellant, v. BLAGGARDS III RESTAURANT CORP., Respondent.

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

Decided September 15, 2015.

Defendant stated in its tax returns that the $50,000 paid by plaintiff was a loan and that the outstanding balance was $44,500; those statements are binding on defendant (see Mahoney-Buntzman v Buntzman, 12 N.Y.3d 415, 422 [2009]). Thus, contrary to defendant's argument otherwise, that amount is a loan, not an investment and summary judgment in plaintiff's favor on the single cause of action in his complaint is warranted.

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