ARICI v. POMA

11069.

180 A.D.3d 551 (2020)

120 N.Y.S.3d 19

2020 NY Slip Op 01248

Adem Arici, Appellant, v. Andrew Poma, Respondent.

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

Decided February 20, 2020.


The court correctly determined that issues of fact exist as to whether the promissory note issued by a corporation in which defendant was a primary shareholder extinguished the debt balance of the stock purchase agreement whereby defendant had agreed to purchase plaintiff's interest in the corporation. Nothing in the promissory note establishes that plaintiff agreed to accept the note as a novation of defendant's contractual obligations. Nor does anything in the note establish...

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