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In re McManus

55 N.Y.2d 855 Court N.Y. Decision date 1982-01-14 English

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p. 855
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
p. 856
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

p. 857
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.

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