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COLOMBOS v. RAMS BOTTLED WATER & COOLERS, INC.

2019-04716. Index No. 62197/16.

203 A.D.3d 798 (2022)

160 N.Y.S.3d 890

2022 NY Slip Op 01439

Edna Colombos et al., Respondents, v. Rams Bottled Water and Coolers, Inc., et al., Appellants.

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

Decided March 9, 2022.

Attorney(s) appearing for the Case

Joseph T. Adragna, Huntington, NY, for appellants.

Albert A. Hatem, P.C., White Plains, NY, for respondents.

Dillon, J.P., Duffy, Christopher and Wooten, JJ., concur.

Ordered that the judgment is affirmed, with costs.

In an agreement dated October 1, 2013, the defendant Rams Bottled Water and Coolers, Inc. (hereinafter Rams), agreed to buy the assets of the plaintiff Pure Spring Water Corp. (hereinafter Pure Spring), including "the good will of the business as a going concern," for a purchase price of $250,000 (hereinafter the asset exchange agreement). To cover a portion of the purchase price, Rams provided Pure Spring with a...

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