Louis Weingast, Appellant v. Rialto Pastry Shop, Inc., Respondents

Summary

The New York Court of Appeals held that a business broker who sells a restaurant as a going concern is not a "real estate broker" under §440 of the Real Property Law and therefore does not need to obtain a broker’s license. Accordingly, the plaintiff’s complaint was not dismissed and the lower court’s judgment was modified to grant a new trial to the defendant corporation while affirming the judgments against the individual defendants.