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NEW YORK METRO CORP. v. CHASE MANHATTAN BANK

73 A.D.2d 573 (1979)

New York Metro Corporation, Respondent, v. Chase Manhattan Bank, N. A., Appellant

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

December 27, 1979

Kielman Schuddekopf, the president of New York Metro Corporation (Metro), opened an account in the name of Metro at the 34th Street branch of the Chase Manhattan Bank, N. A. Schuddekopf owed a personal debt to Kirkeby-Natus in the amount of $400,000. In order partially to satisfy that debt, he arranged for Kirkeby-Natus to loan $350,000 to Metro. The loan was payable in two checks: one in the amount of $200,000, and the other in the amount of $150,000. Schuddekopf was to...

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