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VALLEY NATIONAL BANK v. GURBA

3624, 102457/10.

149 A.D.3d 412 (2017)

2017 NY Slip Op 02601

51 N.Y.S.3d 65

VALLEY NATIONAL BANK, as Successor to the PARK AVENUE BANK, Respondent, v. STEPHEN L. GURBA et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided April 4, 2017.

The motion court correctly dismissed the defense of failure to mitigate, since plaintiff had no duty to sell the nonperishable collateral at any particular time, regardless of the demand of defendants (see First Intl. Bank of Israel v Blankstein & Son, 59 N.Y.2d 436, 447 [1983]). The court also correctly allowed the calculation of the debt based on default interest, where plaintiff had the clear contractual right to impose such...

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