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CENT. TRUST v. SIMMONS MOTOR

28 Misc.2d 826 (1961)

Central Trust Company, Plaintiff, v. Simmons Motor Corporation, Defendant.

Supreme Court, Special Term, Monroe County.

June 1, 1961

Attorney(s) appearing for the Case

Van Schaick, Woods, Strathman, Sturman & Costanza (Angelo A. Costanza of counsel), for plaintiff. Angelo S. Brindisi for defendant.

CLARENCE J. HENRY, J.

On October 16, 1958 the defendant corporation borrowed the sum of $50,000 from the plaintiff bank on a note secured by a guarantee contract executed by the defendant's president.

The note was renewed, without reduction in the principal amount, at three-month intervals during 1959. On January 5, 1960, at the request of the plaintiff, the defendant and its president executed and...

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