Appellate Division of the Supreme Court of the State of New York July 12, 1996 (In re the Arbitration between Melville Development Group, Inc. & Priolo)

—Order unanimously affirmed without costs. Memorandum: Petitioners appeal from an order denying their motion to stay respondent’s demand for arbitration. There is no merit to the contention of petitioners that Supreme Court erred in refusing to determine in the first instance whether there existed a valid and enforceable loan agreement.