Fernandez v. White Rose Food Co‪.‬

This is a motion for summary judgment brought by defendant White Rose Food Co., against plaintiff Jose Fernandez. The underlying action was brought by Mr. Fernandez arising out of plaintiffs sale of his business 1383 Webster Food Corp., (Webster) to defendants Hernandez and Diaz on December 4, 2003. This was done by the sale of all shares in the stock of Webster to Mr. Hernandez and Mr. Diaz in return for two promissory notes in the total amount of $34,000.00. To secure payment plaintiff was the beneficiary of a Security Agreement executed by Hernandez and Diaz and collateralized by all of the chattels, fixtures, equipment and merchandise, and the lease for the business. The agreement purports to cover any additions or replacements to the property or any proceeds from the sale of the property of the business. It was also dated December 4, 2003.