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BANCO PORTUGUES v. FONDA MFG. CORP.

31 A.D.2d 122 (1968)

Banco Portugues Do Atlantico, Respondent, v. Fonda Manufacturing Corporation, Appellant

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

December 12, 1968.

Attorney(s) appearing for the Case

Arthur L. Diamond of counsel (Hale, Brady, Russell & Tarpey, attorneys), for appellant.

Milton I. Newman of counsel (Baar, Bennett & Fullen, attorneys), for respondent.

STEUER, J. P., and CAPOZZOLI, J., concur with McNALLY, J.; McGIVERN, J., dissents in opinion.

McNALLY, J.

In this action based on instruments for the payment of money, defendant appeals from the judgment entered on the order granting summary judgment to plaintiff under CPLR 3213.

Manuel Sampaio Morais of Portugal sold cotton yarn hosiery to defendant, a New York corporation. The memorandum of sale, dated March 1, 1966, provides for shipments during 1966 and for payment by "45 days Sight Draft...

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