GATEWAY NAT'L BANK OF CHICAGO v. SAXE, BACON & BOLAN


40 A.D.2d 653 (1972)

Gateway National Bank of Chicago, Appellant, v. Saxe, Bacon & Bolan, Respondent

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

October 19, 1972


Appellant shall recover of respondent $60 costs and disbursements of this appeal. Plaintiff is suing to recover on an account assigned to it by one of its borrowers as security for a loan now in default. Defendant, whose account was assigned, claims it never received any formal notice of such assignment and is therefore not precluded from raising a defense and a counterclaim to plaintiff's cause of action. The defense is based on the assignor's alleged breach of the very...

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