Ostad v. Ostad

Full title: FRED OSTAD, Respondent, v. SHMOUIEL OSTAD et al., Appellants

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

Date published: Dec 16, 1997

245 A.D.2d 117 (N.Y. App. Div. 1997)

666 N.Y.S.2d 148

Opinion

December 16, 1997

Appeal from the Supreme Court, New York County (Herman Cahn, J.).

Defendants fail to present any evidence supporting their claim that plaintiff had notice of the restrictions contained in the stock certificate, which plaintiff was never given ( cf., Menaker v. Podover, 75 A.D.2d 807, lv denied and dismissed 50 N.Y.2d 926). Nor can such notice be inferred from the shareholders agreement defendants seek to enforce, where plaintiff and his father were issued new shares directly from the corporation and were not signatories to the agreement ( see, Fiore v. Fiore, 46 N.Y.2d 971).

Concur — Murphy, P.J., Sullivan, Milonas, Mazzarelli and Andrias, JJ.