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AMHERST FACTORS v. KOCHENBURGER

4 N.Y.2d 203 (1958)

Amherst Factors, Inc., Respondent, v. Evelyn Kochenburger, Individually and as Administratrix of The Estate of Otto Kochenburger, Deceased, et al., Appellants, et al., Defendants.

Court of Appeals of the State of New York.

Decided April 3, 1958.

Attorney(s) appearing for the Case

Morris Rochman for appellants.

Milton M. Rosenbloom for respondent.

Chief Judge CONWAY and Judges DESMOND, DYE, FULD, FROESSEL and VAN VOORHIS concur.

BURKE, J.

Plaintiff, Amherst Factors, a domestic business corporation not organized under the Banking Law, made a loan to D. N. P. Flooring Corporation evidenced by a series of 12 acceleration promissory notes totaling $5,700, executed by D. N. P. Amherst discounted the notes, retaining $700 and delivering to the maker the net proceeds of the loan, $5,000. The notes had been indorsed in blank by D. N. P.'s president...

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