Respondent landlord admittedly was entrusted with $21,250, which it deposited in a regular commingled account. On this record we conclude, as did Special Term, that said sum constituted a security deposit, the commingling of which constituted conversion. (General Obligations Law, § 7-103.) However, respondent's claim as a general creditor, in the sum of $7,684.05, should not have been expunged. A covenant to pay rent is independent from a covenant by the landlord to...
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