MEIER v. STONEBROOK STRUCTURED PRODUCTS LLC (2005)

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

Paul MEIER, Plaintiff-Appellant, v. STONEBROOK STRUCTURED PRODUCTS, LLC, Defendant-Respondent.

Decided: May 05, 2005

BUCKLEY, P.J., SAXE, NARDELLI, WILLIAMS, CATTERSON, JJ.

Zegen & Fellenbaum, New York (Neal Fellenbaum of counsel), for appellant. The Goldstein Law Group, P.C., New York (Daniel C. Callaway of counsel), for respondent.

Order, Supreme Court, New York County (Diane A. Lebedeff, J.), entered May 7, 2004, which granted defendant's motion to dismiss the complaint, unanimously affirmed, without costs.

Plaintiff sought a judgment declaring that he had an 18% ownership interest in the company that hired him, which was defendant's predecessor. Contrary to his claim, the terms of the offer letter, including the buy-out provision, were specific and certain. Once plaintiff accepted the offer, there was an enforceable agreement. The buy-out provision was not contingent on anything other than termination of employment and payment of par value, which occurred here (see e.g. F & S Pharm. v. Dandra Realty Corp., 302 A.D.2d 204, 754 N.Y.S.2d 256 [2003] ).

We have considered plaintiff's remaining arguments and find them unavailing.

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