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STATE BANK OF ALBANY v. GUISEPPI ESTATES, INC.

44 A.D.2d 878 (1974)

State Bank of Albany, Respondent, v. Guiseppi Estates, Inc., et al., Appellants

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

May 23, 1974

Defendants are Carmine Longobardi and Josephine Longobardi, a brother and sister, and Guiseppi Estates, Inc., a corporation which is wholly owned by Josephine Longobardi, and has as its sole asset a 103-acre farm in the Town of Chatham, Columbia County, New York. On October 18, 1966 defendants borrowed $20,000 from plaintiff bank and in return gave the bank their bond. As collateral security, defendant Guiseppi Estates, Inc., gave...

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