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MILLER v. DISC. FACTORS

1 N.Y.2d 275 (1956)

Isidore Miller, Appellant, v. Discount Factors, Inc., et al., Respondents, et al., Defendants.

Court of Appeals of the State of New York.

Decided May 24, 1956.

Attorney(s) appearing for the Case

George Natanson and Jay F. Gordon for appellant.

Maxwell H. Goldstein for David Lippel, respondent.

Louis Gruss and Marcy Finke for Discount Factors, Inc., respondent.

CONWAY, Ch. J., DESMOND, DYE and BURKE, JJ., concur with FROESSEL, J.; FULD and VAN VOORHIS, JJ., dissent and vote to affirm.

FROESSEL, J.

On February 2, 1953, at the suggestion of a note broker whom it had consulted, Philip Freeman Co., Inc. (hereinafter called Freeman), made five promissory notes to its president, Walter Freeman, so that he "could have them discounted". The notes were in the sums of $3,000 each, payable during the five succeeding months. After indorsement by its president and his brother-in-law, plaintiff Isidore Miller...

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