NOVAK CO. v. NEW YORK CONVENTION CTR. DEV

The stipulation entered into by the parties in open court on May 18, 1993 was expressly conditioned on approval thereof by both the Attorney-General's Office and the New York Convention Center Development Corporation's Board of Directors. Pursuant to CPLR 2104 a stipulation of settlement entered into in "open court" and stenographically recorded is enforceable as a contract binding on all parties thereto and is governed by general contract principles for its interpretation and effect (State of New York v. Warren Bros. Co., 190 A.D.2d 728, 730). Just "[a]s in a matter where parties seek enforcement of a contract, the court has the responsibility of effectuating the true intent of the parties" (Furgang v. Epstein, 106 A.D.2d 609). Therefore, we find that the enforcement of the stipulation, absent the approvals upon which the stipulation was expressly conditioned, was improper.

Concur — Rosenberger, J.P., Ross, Asch, Rubin and Williams, JJ.