McINTYRE v. STATES MARINE CORP.


283 A.D. 651 (1954)

John H. McIntyre, Appellant, v. States Marine Corporation et al., Respondents

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

January 19, 1954.


Per Curiam.

The corporate defendant had a legal right based on plain contractual language to repurchase the plaintiff's stock at the par value of $100,000 upon the termination of plaintiff's employment for any cause. That plaintiff's services with the corporation are terminated is admitted. But the statement in plaintiff's affidavit that the book value of the stock which the corporation is able to acquire by the naked fact of termination of plaintiff's employment...

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