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DYE v. LINCOLN FIRST BANK OF ROCHESTER

38 N.Y.2d 769 (1975)

Marvin R. Dye et al., as Trustees for Bondholders Under an Instrument of Trust, Appellants, v. Lincoln First Bank of Rochester, Formerly Lincoln Rochester Trust Company, et al., Respondents.

Court of Appeals of the State of New York.

Decided December 4, 1975.

Attorney(s) appearing for the Case

Walter J. Holloran for appellants.

G. Robert Witmer, Jr., for Lincoln First Bank of Rochester, respondent.

Bruce E. Hansen for Myron S. Lewis and others, respondents.

Chief Judge BREITEL and Judges JASEN, GABRIELLI, JONES, WACHTLER, FUCHSBERG and COOKE concur in memorandum.

MEMORANDUM.

Order affirmed, with costs, on the reasons set forth in the opinion of the Appellate Division and because the prior grant of summary judgment, the "procedural equivalent of a trial" (Falk v Goodman, 7 N.Y.2d 87, 91), is a binding final judgment on the merits which bars a subsequent action between the same parties for the same cause of action (Eidelberg v Zellermayer...

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