MATTER OF McMANUS

On summary consideration, order affirmed, with costs. We agree with the Appellate Division that "[a]pplying 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 the formula contained in the shareholders' agreements" ( 83 A.D.2d 553; see Martin Delicatessen v Schumacher, 52 N.Y.2d 105, 110; 1 Corbin, Contracts, §§ 97-98).

Concur: Chief Judge COOKE and Judges JASEN, GABRIELLI, WACHTLER, FUCHSBERG and MEYER. Taking no part: Judge JONES.