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ATL. BANK OF N. Y. v. CARNEGIE CORP.

25 A.D.2d 301 (1966)

Atlantic Bank of New York, Appellant, v. Carnegie Hall Corporation et al., Respondents

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

April 21, 1966.

Attorney(s) appearing for the Case

Walter J. Holzka of counsel (Winthrop, Stimson, Putnam & Roberts, attorneys), for appellant.

H. H. Nordlinger of counsel (Jacob I. Charney and Neil B. Hirschfeld with him on the brief; Nordlinger, Riegelman, Benetar & Charney and Stroock & Stroock & Lavan, attorneys), for respondents.

BOTEIN, P. J., BREITEL, STEVENS and BASTOW, JJ., concur.

McNALLY, J.

In this action on a promissory note against accommodation indorsers, the question is whether the allegations and proof in support of the defenses are precluded in the light of the following holding of Mount Vernon Trust Co. v. Bergoff (272 N.Y. 192, 196): "Public policy requires that a person who, for the accommodation of the bank executes an instrument which is in form a binding obligation...

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