FRANKLIN NAT'L BANK OF LONG ISLAND v. S. & L. CONSTR. CORP.


16 A.D.2d 682 (1962)

Franklin National Bank of Long Island, Respondent, v. S. & L. Construction Corp. et al., Defendants, and Joseph A. Nitti et al., Appellants

Appellate Division of the Supreme Court of the State of New York, Second Department.

April 23, 1962


Judgment affirmed, with $10 costs and disbursements.

In our opinion, said defendants' severance of their connection with Grove Construction Corp., the borrower, did not terminate their guarantee of obligations to be incurred by it in favor of the plaintiff. Nor does receipt by plaintiff of the corporate resolution changing signatories of its bank account and plaintiff's receipt of the subsequent application for a loan to the corporation with the authorization of persons...

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