STATE BANK OF ALBANY v. ARBIT FURNITURE CO., INC.


41 A.D.2d 866 (1973)

State Bank of Albany, Appellant, v. Arbit Furniture Co., Inc., Respondent. (Action No. 1.) State Bank of Albany, Appellant, v. Arbit Furniture Co., Inc., Respondent. (Action No. 2.)

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

April 19, 1973


The State Bank of Albany brought these two actions to recover on two retail installment contracts which had been sold and assigned to it by the defendant, Arbit Furniture Company, who had signed an unconditional guarantee of payment when it assigned the contracts to the bank. Since 1959, the bank and Arbit had had an oral agreement whereby Arbit would sell its retail installment contracts to the bank in return for the payment of...

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