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FID. & CAS. v. COSMOPOLITAN MUT. INS.

41 A.D.2d 100 (1973)

Fidelity and Casualty Company of New York, Appellant, v. Cosmopolitan Mutual Insurance Company, Respondent

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

March 1, 1973.

Attorney(s) appearing for the Case

John M. Cunneen for appellant.

William F. McNulty of counsel (Anthony J. McNulty with him on the brief; A. Allen Stanger, attorney), for respondent.

MARKEWICH, J. P., MURPHY, LANE and TILZER, JJ., concur.

KUPFERMAN, J.

Valient, a driver, had worked for Island Transportation Corp. (Island), a corporation in the business of hauling petroleum products. Island decided to use "lease operators", and its drivers bought tractors from Island with which to haul Island's petroleum trailers. In January, 1966, Island bought two tractors in one transaction to sell to Valient and another. On February 7, Valient's bank loan application...

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