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MARINE MIDLAND v. THURLOW

54 A.D.2d 383 (1976)

Marine Midland Bank-Southern, Respondent-Appellant, v. Bradbury K. Thurlow et al., Appellants-Respondents

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

November 24, 1976

Attorney(s) appearing for the Case

James L. Burke for appellants-respondents.

Denton, Moseson & Keyser (Richard Denton of counsel), for respondent-appellant.

MAIN and LARKIN, JJ., concur with HERLIHY, J.; GREENBLOTT, J. P., and KANE, J., concur in part and dissent in part in an opinion by KANE, J.

HERLIHY, J.

On January 31, 1969, the defendants signed and delivered to the plaintiff (hereinafter referred to as "bank") their notes totaling $100,000 with interest at 7% payable on August 1, 1969. Also, on that date, the defendants executed in favor of the bank a pledge or security agreement whereby they pledged $100,000 of Conelec, Inc. convertible debentures and certain shares of stock of Scan-data Corporation...

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