Case ID: ny-2d_55/html/0855-01.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

In the Matter of Leo K. McManus, Deceased. Joseph M. McManus, Sr., Appellant; Virginia A. McManus, as Executrix of Leo K. McManus, Deceased, Respondent.
    Decided January 14, 1982
    
      APPEARANCES OF COUNSEL
    
      Terrence P. O’Reilly for appellant.
    
      Arthur J. Powers for respondent.
   OPINION OF THE COURT

On summary consideration, order affirmed, with costs. We agree with the Appellate Division that “[ajpplying fundamental principles of contract law, it is apparent that the petitioner’s letter of December 14,1979 was an unqualified, seasonable expression of acceptance of appellant’s offer of stock at a price to be computed in accordance with the formula contained in the shareholders’ agreements” (83 AD2d 553; see Martin Delicatessen v Schumacher, 52 NY2d 105, 110; 1 Corbin, Contracts, §§ 97-98).

Concur: Chief Judge Cooke and Judges Jasen, Gabrielli, Wachtler, Fuchsberg and Meyer. Taking no part: Judge Jones.